Naarden, The Netherlands, December 16, 2021 — Synerkine Pharma announced today that it has added EUR 3.5 million to its Series A funding. The extension was led by Flerie Invest, with support from existing investors Thuja Capital and Utrecht Holdings.
Synerkine Pharma is a preclinical stage biotech company, developing a new class of powerful cytokine fusion proteins aimed to treat disorders such as chronic pain, osteoarthritis, and chemotherapy-induced neuropathy, which are all disease with a high unmet need. The socioeconomic burden of chronic pain is greater than of most other health conditions and patients are waiting for new, innovative and effective, non-opioid alternatives. These cytokine fusion proteins have the potential to change the landscape of analgesics by providing long-term relief of chronic pain and reverse progression.
“Since the closing of the initial Series A financing, we have made significant progress in the development of our novel proteins, including the manufacturing of our lead compound and the addition of a second fusion protein to our pipeline. The funds of the Series A extension round will be used to accelerate the development of the lead compound SK-01 to complete non-clinical studies, the scale up of the manufacturing process and get it ready for clinical development” says Hans Preusting, CEO of Synerkine Pharma.
Ted Fjällman, partner at Flerie Invest, comments: “Synerkine’s technology allows for a new class of fusion proteins to interact with the immune system and modulate disease in a wholly novel way. We’re excited to help on this journey and develop the platform to clinical Proof-of-Concept and expand to new patient needs.”
In conjunction with the closing of the Series A extension round, Ted Fjällman, PhD joined the board of Synerkine Pharma.
About Synerkine Pharma
Synerkine Pharma was founded in 2018 and is a spin-off of the University Medical Center Utrecht (UMCU), the Netherlands. Synerkine Pharma focuses on development of novel fusion proteins that combine the immunoregulatory activity of different cytokines. These fusion proteins have unique benefits over the individual cytokines and modulate a broad number of targets including key elements in the pain pathway. This provides treatment options for chronic pain conditions that clearly differentiate from the mechanism of action of current analgesic drugs holds tremendous therapeutic and commercial potential.
About Flerie Invest
Flerie Invest is a biotech and pharma investor managing a portfolio of 20 companies in Sweden, the UK, the US, the Netherlands, Iceland and Israel. The investment focus is on drug development and tools for drug development. The company was founded in 2010 by Thomas Eldered, who also co-founded and built Recipharm to be one of the top five CDMOs globally. Flerie Invest, with offices in Stockholm and London, is an active member of SwedenBIO and the British Venture Capital Association (BVCA).
For further enquiries:
Hans Preusting, PhD, MBA
Chief Executive Officer
+31 (0) 620 783 355