Syntaxin raises £18 million

Biotechnology company Syntaxin has raised £18 million to further develop its technology and start clinical studies on one of its products.


Biotechnology company Syntaxin has raised £18 million to further develop its technology and start clinical studies on one of its products.

Biotechnology company Syntaxin has raised £18 million to further develop its technology and start clinical studies on one of its products.

The Oxford-based company, which develops biopharmaceuticals, won new funding from Lundbeckfond Ventures, Ipsen and Seventure in the series C financing.

Existing investors Abingworth, SR One, LSP, Johnson & Johnson Development Corporation and Quest also contributed to the investment.

Syntaxin will use the money to further develop new technology, which helps in the treatment of a variety of diseases, and progress its acromegaly programme into clinical proof of concept studies.

Acromegaly is a chronic and debilitating disease resulting from excessive secretion of growth hormone.

Syntaxin chief executive officer Dr Melanie Lee says: ‘This financing will enable us to progress development of our lead product to treat acromegaly and to maximise the potential of our unique technology platform in collaboration with industry partners.’

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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