Synerkine Pharma secures €12.1 million to accelerate novel pain therapeutics towards clinical proof-of-concept
- Flerie leads Series A extension with other existing investor Thuja Capital participating and new investors InnovationQuarter Capital and Utrecht Health Seed Fund joining the round
- Complementing the Series A extension, Synerkine has received a matching RVO Innovation Credit from the Netherlands Enterprise Agency
- The total proceeds of €1 million will be used to advance Synerkine’s lead product into clinical trials
Leiden, The Netherlands – October 12, 2023 – Synerkine Pharma, a Dutch biopharmaceutical company creating innovative pain solutions, today announced an extension of its Series A financing led by Flerie with support from new investors, InnovationQuarter Capital and Utrecht Health Seed Fund, and existing investor Thuja Capital. The equity financing is accompanied by a matching innovation credit from Rijksdienst voor Ondernemend (RVO) Nederland – the Netherlands Enterprise Agency. The total new proceeds of EUR 12.1 million will be used to accelerate the development of Synerkine Pharma’s lead asset SK-01, a therapeutically active cytokine fusion protein, into clinical studies in complex regional pain syndrome (CRPS), a severe chronic pain indication.
Chronic pain is a leading cause of disability globally and associated with enormous health-care costs. An increasing body of evidence demonstrates that the interaction between the nervous and immune systems plays an important role in the pathophysiology of pain. Synerkine Pharma operates in this area with a novel class of patented cytokine fusion proteins, called Synerkines, which combine two biologically relevant and synergistic anti-inflammatory cytokines. The mode-of-action aims to reverse the state of central sensitization, a heightened sensitivity to pain, holding the potential to fully reverse chronic pain. Synerkine Pharma’s lead molecule, SK-01, a fusion of the cytokines IL-4 and IL-10, targets multiple cell types and pathways involved in chronic pain and has demonstrated durable effects in a relevant animal model.
“A lack of innovation has held back the treatment of severe and chronic pain for years, and an overreliance on opioid medications has led to wide-reaching negative effects. We aim to reimagine chronic pain treatment with a novel first-in-class approach that could result in a long-term pain-resolving effect,” commented Hans Preusting, PhD, Chief Executive Officer of Synerkine Pharma. “With the financial resources to advance our lead program into clinical trials secured, our focus will move towards establishing safety and proof-of-concept for our novel cytokine fusion approach. Our lead asset, SK-01, is progressing steadily towards the clinic, supported by a robust preclinical data package and with process development for larger scale manufacturing well underway.”
“Synerkine has achieved significant progress over the last 24 months and is well prepared to reach the next value inflection point of clinical readout. We look forward to working with current and new partners helping the team to unlock the potential of their novel disease-modifying biology with a unique mode-of-action,” commented Ted Fjällman, Chief Executive Officer of Flerie.
About Synerkine Pharma
Synerkine Pharma B.V. focuses on the development of novel fusion proteins, called Synerkines, that combine the immunoregulatory activity of different cytokines. These fusion proteins have unique benefits over the individual cytokines and modulate a broad number of targets, including key elements in the pain pathway. This provides treatment options for chronic pain conditions with a clearly differentiated mechanism of action over current analgesic drugs and holds tremendous therapeutic and commercial potential. Synerkine Pharma B.V. was founded in 2018 as a spin-off of the University Medical Center Utrecht (UMCU), the Netherlands.
For more information, please contact:
SYNERKINE PHARMA BV
Chief Executive Officer
Telephone: +49 160 9352 9951