AstraZeneca backs Syneron Bio in near-$100m financing
British pharma major AstraZeneca (LSE: AZN) has joined a near-$100 million series A and A+ financing round for Syneron Bio, a biotechnology startup focused on macrocyclic peptide therapies for oncology and chronic diseases.
The financing was led by AstraZeneca and the AstraZeneca-CICC Healthcare Investment Fund, a joint fund with CICC Capital. Other participants included the Pfizer Biotech Development Investment Fund, GL Ventures, 5Y Capital, Sinovation Ventures, Lenovo Capital and Incubator Group, and Gree Capital.
Syneron said the funding will strengthen development of its intelligent high-throughput macrocyclic peptide platform, Synova, and advance multiple pipelines toward clinical stages.
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