Investee Company – SynGenix Ltd (UK)
Investee Company Business Type – Bioscience company developing technologies for the targeted delivery of therapeutics to the central nervous system and other tissues.
Type of Financing – Expansion
Equity Providers – Technomark Medical Ventures, World Life Sciences plc, Yorkshire Fund Managers, Providence Investment Company, Generics Asset Management, Cambridge Research and Innovation
Equity Leader (Individual) – Paul Kacik (Technomark Medical Ventures) and Peter Hoskins (World Life Sciences)
Debt Providers – N/A
Debt Type – N/A
Debt Leader (Individual) – N/A
Equity Amount – £5 million
Total Deal Value – £5 million
Other Advisors – Technomark Consulting, Garretts, Covington & Burling, Ernst & Young
Comments- SynGenix, a leading bioscience company with unique, sophisticated technologies for the targeted delivery of therapeutics to the central nervous systems and other tissues, has announced the closing of a £5 million investment round.
Technomark Medical Ventures (TMV) and World Life Sciences, owned by Billam, led the investment. They were joined by Providence Investment Company, funds managed by Generics Asset Management, funds managed by Yorkshire Fund Managers, Cambridge Research and Innovation and Martin Bloom.
SynGenix has developed technology that enables drugs to be delivered selectively to the nervous system by internal cellular mechanisms. This improves the efficiency of existing drugs and reduces the side effects. The company intends to use this financing to take its lead product development programmes into phase I clinical trials and to develop related technologies addressing other important medical needs.
Dr Graham Hughes, scientific investment director at TMV, commented: “SynGenix has developed extremely valuable delivery technologies capable of serving markets worth over £20 billion that are currently inadequately addressed. Our investment demonstrates Technomark’s confidence that SynGenix will succeed in proving that it can ultimately capture a significant portion of those markets.”