Syntaxin raises L16M in series B round
UK biopharmaceutical company Syntaxin, a specialist developer of biologics that control cell secretion, has raised L16.0 million ($33.7 million) in a recently-completed series B financing operation. The round, which was led by investors SR One, the venture capital arm of GlaxoSmithKline, Dutch group Life Science Partners and Syntaxin's existing shareholder Abingworth, attracted new investment from the Johnson & Johnson Development Corp as well as a second Dutch group Quest for Growth.
Synthaxin, which has recently relocated to a site at the Quadrant Science Park in Abingdon near Oxford, said that the proceeds would be used to further the development of its product pipeline, particularly focusing on the creation of novel biologics that address currently unmet clinical needs.
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