Clinical stage biopharma company Lyndra Therapeutics has announced the closing of a $101 million (£79,400,000) Series E financing round.
The proceeds of the round, led by Sarissa Capital, will support the development of Lyndra’s pipeline, including oral weekly risperidone (LYN-005), which is near completion of a phase 3 study.
Lyndra’s investigational therapies are enabled by the company’s LYNXAmy Schulman, Lyndra Therapeutics co-founder, former CEO and Executive Chair of the Board, said: “This investment will provide Lyndra with the resources and leadership to achieve what we know is possible with the LYNX platform: a transformation of the relationship between people and their medicines.
“This is an important step toward helping people adhere to their medication regimens and enabling them to better achieve their treatment goals.”
Prior to the development of the LYNX technology, oral pills had been limited to ‘extended release’ formulations, which do not last for more than a day.
Lyndra’s LYNX drug delivery platform is enabled by more than 50 patented innovations in design, engineering and materials science to achieve dramatically-reduced dosing frequency.
The platform originated from the Bob Langer and Gio Traverso Laboratories at Massachusetts Institute of Technology (MIT), with which Lyndra has an exclusive technology license.
The round follows a $20.3 million (£1.8 million) Series D financing led by Polaris Partners that was completed in June 2023.
