Fresh capital for Basel biotech company Synosia
Thursday, 08.01.2009

Fresh capital for Basel biotech company Synosia

The Basel biotech company Synosia has succeeded in attracting 29 million dollars (32 million francs) from private investors

It is usually difficult for companies to tap new sources of finance especially in the present climate. This is particularly true of young biotech companies, because they are usually engaged in research on active substances that may never gain regulatory approval and also earn no money in the launch phase.

 

The CFO of Synosia, Philippe Lutz, is also "very pleased and a little proud" that the company has managed to attract this funding. The main investors include the venture capital firms Aravis Venture and Investor Growth Capital. But previous investors such as Versant Ventures and Abingworth have also injected further finance into the company.

 

One reason why Synosia has succeeded in attracting these investors is probably the comparatively large number of active substances which the biotech company has in research. Synosia aims to use the new money to complete current clinical studies and start new ones, says Philippe Lutz. The capital, he adds, is sufficient for up to two years.

 

For further information, see www.synosia.com

http://www.synosia.com/

 

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