UK - LSP and SR One lead £16m investment in Syntaxin
Life Science Partners (LSP) and SR One, GlaxoSmithKline's independent corporate healthcare fund, have led an investment of £16m in biopharmaceutical company Syntaxin Ltd in a series-B funding round.
The round also included contributions from Johnson & Johnson Development Corporation and Quest for Growth, which invested £1.5m. Exisiting shareholders Abingworth Management also participated, following on from the £6m of start-up capital it committed to the company in 2005, when it spun out from the UK Health Protection agency.
Syntaxin is a specialist developer of novel biologics based on exotoxins, a family of microbial proteins. By changing the cell-targeting specificity of these molecules, the biologics can selectively control secretion from the specific cell types involved in pain, neuromuscular, respiratory and metabolic diseases. The capital raised will be used to continue the ongoing development of the product pipeline towards clincal proof of mechanism.
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