25 March 2019, Utrecht, The Netherlands – Synerkine Pharma B.V., which develops fusion proteins for the treatment of chronic pain, announced today that it successfully closed a EUR 3.3 million Series A financing from Thuja Capital, an undisclosed private investor, and the company’s founders.
Hans Preusting, co-founder and CEO of Synerkine Pharma, said: “We are delighted with the closing of the Series A financing. The proceeds will allow us to deliver a pre-clinical proof of concept in osteoarthritis and neuropathic pain over the next two years. Our lead compound licensed from the University Medical Center Utrecht (UMCU), a fusion protein of IL4 and IL10, has been shown to significantly reduce chronic pain in multiple pre-clinical models. The therapeutic potential of fusion proteins that mimic endogenous immune molecules and are devoid of the typical analgesic side-effects is substantial in a broad range of pain indications.”
About Synerkine Pharma
Synerkine Pharma focuses on developing novel fusion proteins for the treatment of inflammatory, neuropathic and osteoarthritic pain. Synerkine Pharma was founded in 2018 and has licensed the exclusive rights of its lead compound, a fusion protein of IL4 and IL10, from the University Medical Center Utrecht (UMCU), the Netherlands. This fusion protein targets common regulatory mechanisms in different types of chronic pain, and has unique properties as demonstrated by UMCU researchers, who showed that it is effective in reducing pain in multiple pre-clinical models. The ability to treat pain with drugs that mimic endogenous immune molecules and are based on a different mechanism of action than the current anti-analgesic drugs holds tremendous therapeutic and commercial potential.
About Thuja Capital
Thuja Capital manages several healthcare venture capital funds that invest in private companies that aim to have a lasting impact on patients and society. Thuja typically invests in biotech, nutraceuticals, medtech, and digital health. The team of Thuja leverages its deep operational, strategic and investment experience to support its portfolio companies. For further information, visit thujacapital.com.
VESPER Attorneys advised the consortium led by Thuja Capital on their investment.