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Lyndra Therapeutics Completes $60.5 Million Series C Financing

Jun 24, 2021•about 4 years ago

Amount Raised

$60.5 Million

Round Type

series c

Watertown

Description

Lyndra Therapeutics, a clinical-stage biotechnology company pioneering a novel technology platform that transforms daily pills into once-weekly to monthly oral treatment options, today announced the closing of its $60.5 million Series C financing. The proceeds of the round, led by new investor, AIG Investments, an affiliate of American International Group, Inc. (‘AIG’), will advance Lyndra’s lead product candidate into pivotal trials as the Company prepares for commercialization in the U.S. In parallel, the Company is expanding its central nervous system (CNS) pipeline assets and actively evaluating high value partnerships across a broad range of disease states.

Company Information

Company

Lyndra Therapeutics

Location

Watertown, South Dakota, United States

About

Lyndra Therapeutics is pioneering the first-ever oral, ultra-long-acting, extended-release therapies, which have the potential to fundamentally change the way people take medicine by enabling patients to take a pill once a week rather than daily. The Company’s breakthrough Extended-Release Oral Capsule is designed to provide consistent drug levels for an entire week or as long as a month, from one, normal-sized capsule – something no oral therapy has ever achieved before. Lyndra’s robust pipeline is made up of therapies with established and well-known safety profiles across a number of disease areas in which non-adherence is known to be a significant driver of outcomes, including schizophrenia and other central nervous system diseases, diabetes, cardiovascular disease and opioid use disorder, among others. The Company is also committed to advancing its platform across new chemical entities and a variety of critical global and public health opportunities alongside partners such as the Bill & Melinda Gates Foundation and through funding from the NIH. For more information, visit the Company’s website at www.lyndra.com.

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