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news.Synlogic has closed a Series B investment round with $40m in additional financing led by OrbiMed HealthCare Fund Management, bringing the total investment in its combined Series A and B financing to $70m.
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In addition to OrbiMed, Deerfield Management Company and founding investors Atlas Venture and New Enterprise Associates (NEA) also participated in the financing.
Synlogic CEO Jose Carlos Gutiérrez-Ramos "We are very pleased with the strong interest in this financing round from leading life science investors.
"The additional funds will support the development efforts of our two lead inborn errors of metabolism programs, UCD and PKU, which we plan to advance to the clinic in early 2017, as well as expand our pipeline of Synthetic Biotics across multiple therapeutic areas. This financing together with our recently announced partnership with AbbVie for the treatment of inflammatory bowel diseases, positions Synlogic well to realize the transformative potential of this new class of medicines."
As a part of the new financing, Mr. Chau Q. Khuong, a Private Equity Partner at OrbiMed, will join the Synlogic Board of Directors.
Khuong said: "OrbiMed is delighted to lead this financing of Synlogic, a pioneering company at the convergence of synthetic biology and the microbiome.
"Synlogic’s approach of developing ‘designer’ probiotics through precision molecular programming to treat human disease is exciting and has the potential to revolutionize the treatment paradigm for a number of medical conditions."