• Private financing round closed for subscription at DKK 106 million/Eur 14 million, 3x original target
• The proceeds will be used to strengthen the company’s development programs and market position prior to an upcoming IPO
Copenhagen, Denmark, 15 November 2021 – Synklino, which develops an innovative and groundbreaking drug for the treatment of cytomegalovirus (CMV) infections in transplant recipients, announces today that the company has completed a financing round of DKK 106 million/Eur 14 million corresponding to three times the original target. The proceeds will be used to strengthen and accelerate the development activities of the company’s drug candidate, SYN002, and the company’s platform in order to build a strong pipeline of new innovative and valuable drug candidates for the treatment of chronic viral infections. The expansion of the financing round thus provides an opportunity to bring the company’s leading candidate, SYN002, faster towards clinical development and at the same time increase the number of new development programs faster than previously planned.
Thomas Kledal, co-founder and CEO, says: “We are incredibly pleased with the interest of investors. In addition to the opportunity to create more value in the company, the expansion of the financing round provides optimal flexibility in terms of timing and size of the company’s forthcoming IPO. ”
The existing investors, including Vaekstfonden and Eir Ventures, as well as members of management and the Board of Directors participate in the investment round. In addition, Synklino welcomes 70 new investors, divided into strong private investors, biotech and medico interested family offices and institutional investors such as Strategic Investments A/S, who share Synklino’s mission to develop cutting-edge drugs for the treatment of patients with chronic viral infections. In connection with the financing round, Synklino will be further strengthened with Morten Schrøder’s entry into the Board of Directors.
Lene Gerlach (Vaekstfonden)
”The significant interest in Synklino reflects that the private capital market has recognized the great potential in Danish biotech companies,” says Lene Gerlach. “Denmark has a global position of strength in the biotech industry, and Synklino is one of the results of this strong position. The company is built on a decade of high quality academic research and has a competent and experienced team. In Vaekstfonden, we want to drive innovation, support the Danish biotech industry and ensure national anchoring of valuable companies. That is why we are happy to be part of Synklino’s journey ”, adds Lene Gerlach.
John Haurum (Chairman of the Board)
“We have passed an important milestone and can now complete the preparations for the upcoming clinical trial for our lead candidate and the company’s upcoming IPO. I would like to take this opportunity to congratulate the company’s management and skilled employees on the result and thank the company’s existing and new investors for the trust and the strong support, which opens the door to new opportunities and increases strategic flexibility,” says John Haurum.
For further information please contact:
Thomas Kledal, CEO
Synklino is a Danish biotech company that develops pioneering drugs for the treatment of chronic viral infections, which lead to increased disease and mortality in the infected patients. Synklino is a spin-out from the University of Copenhagen and The Technical University of Denmark previously incubated at the BioInnovation Institute. The company was founded with support from respected Nordic funds (Eir Ventures and Vaekstfonden). Synclino’s first drug candidate SYN002 represents a radically improved treatment of CMV infection in transplant recipients in order to give these patients an improved prognosis and the opportunity to live their life again. www.synklino.com
About Cytomegalovirus (CMV)
Human cytomegalovirus (CMV) is a β-herpes virus. CMV is a widespread, chronic viral infection found in more than 60% of adults worldwide. Initial infection in otherwise healthy immunocompetent individuals results in productive (lytic) infection and is almost always asymptomatic. Like all other herpes viruses, CMV establishes lifelong latent infection and incorporates its DNA into host cells. CMV reactivation from latency is a serious issue in transplant patients due to the need for concomitant immunosuppressive therapy. Active infection and accumulation of a high virus load in immunosuppressed patients leads to a variety of CMV diseases, including organ rejection, developmental and neurological complications, and can be fatal. CMV has a major impact on morbidity and mortality during transplantation, and increases transplant costs by up to 50% due to long-term hospitalizations and difficult courses of treatment. The treatment of CMV therefore represents a large unmet medical need. No currently marketed or pipeline drugs can cure CMV, and current drugs pose a risk of developing resistance. www.synklino.com