Clinical-stage biopharmaceutical company Lyndra Therapeutics has successfully raised $210 million in a Series E funding round, marking a significant milestone for the organization.
The funding was led by Sarissa Capital and included participation from Sun Pharmaceutical Industries Limited and Polaris Partners.
This substantial investment comes on the heels of a previous Series D financing round in June 2023, where $20.3 million was secured with Polaris Partners at the forefront.
Financial Backing and Strategic Investors:
The lead investor, Sarissa Capital, has played a pivotal role in spearheading this latest funding round, emphasizing the confidence placed in Lyndra Therapeutics’ innovative approach to long-acting oral therapies.
Notable contributors also include Sun Pharmaceutical Industries Limited and Polaris Partners, both recognized entities in the pharmaceutical and investment sectors.
The diverse range of investors underscores the industry’s recognition of Lyndra’s potential and the promise of its drug delivery platform.
Utilization of Funds and Development Focus:
Lyndra Therapeutics, under the leadership of CEO Jessica Ballinger, outlines its strategic allocation of the newly acquired funds.
The primary utilization will be directed towards advancing the development of its pipeline, with a specific focus on the completion of a pivotal phase 3 study for oral weekly risperidone (LYN-005).
This commitment to progressing through clinical trials signifies the company’s dedication to bringing long-acting oral therapies to fruition.
About Lyndra Therapeutics:
Lyndra Therapeutics distinguishes itself with its LYNX® drug delivery platform, designed for creating oral medicines with extended release durations, lasting a week or more.
Originating from technology developed in the laboratories of Bob Langer and Gio Traverso at MIT, the LYNX platform has evolved since 2015, achieving proof of concept in a Phase 2 study.
The company’s therapeutic focus encompasses psychiatry, cardiometabolic diseases, and other areas where existing treatment approaches may fall short.
Lyndra’s lead product candidate, oral weekly risperidone (LYN-005), targets individuals dealing with schizophrenia and bipolar 1 disorder.
Lyndra Therapeutics’ success in securing substantial funding reflects the industry’s recognition of the potential impact of its long-acting oral therapies.
The Series E funding, led by Sarissa Capital and supported by key players in the pharmaceutical and investment sectors, positions the company for significant strides in advancing its drug delivery platform.
As the organization progresses in its pivotal phase 3 study, the infusion of funds underscores the collective belief in Lyndra’s capacity to address unmet patient needs across various medical conditions.Share on Facebook «||» Share on Twitter «||» Share on Reddit «||» Share on LinkedIn