Lyndra Therapeutics announced that FUJIFILM has joined the company’s Series B raise, bringing the total round to $60 million
Thanks to the hard work of the Lyndra Therapeutics team, we recently announced this January that we closed our Series B financing round. Since the news came out we’re excited to share that FUJIFILM Holdings America Corporation has joined the raise, bringing the total round to over $60 million. We are thrilled to have FUJIFILM on board along with HOPU Investments, Gilead Sciences, The Invus Group, Bill & Melinda Gates Foundation and Orient Life, as well as all investors from our Series A funding round led by Polaris Partners.
The funding will support the expansion of our Phase I pipeline and is enabling our progress toward Phase II clinical trials. As we prepare for later stage trials we are also investing to scale up our manufacturing capabilities.
As the Lyndra team looks forward to what’s ahead in 2019, we also have several big milestones to celebrate from just the past year:
- We released clinical data in Nov. 2018 demonstrating that our once-weekly dosage form can safely reside in the stomach with predictable pharmacokinetics over 7 days.
- We have now enrolled 48 subjects in Phase I clinical trials in Australia. In our pharmacokinetics study, 8 subjects received the dosage forms containing memantine hydrochloride, a therapy for Alzheimer’s. In a separate, placebo controlled and blinded study, we enrolled 40 total subjects with 32 receiving a Lyndra dosage form with overall good safety and tolerability.
- In Dec. 2018 we announced a Notice of Allowance from the U.S. Patent and Trademark Office (USPTO) for intellectual property related to our ultra-long-acting dosage form.
- We continued to grow our team, boosting our clinical, regulatory and manufacturing capabilities.
When Amy Schulman, our CEO, asked me to help build this company I knew it was an opportunity to be a part of something special. I couldn’t have imagined the tremendous progress we’d make toward our mission in such as short period of time, though. Lyndra is truly changing how people take medicine.
At Lyndra, everyone is necessary. Building a team where people from different backgrounds can come together to do what they do best is critical to what we do. I am so incredibly proud of the team at Lyndra and look forward to another big year of achievements in 2019.