WATERTOWN, Mass.– Lyndra Therapeutics®, a clinical-stage biopharmaceutical company, today announced the closing of a $101 million Series E financing round. The proceeds of the round, led by Sarissa Capital and including Sun Pharmaceutical Industries Limited [Reuters: SUN.BO, Bloomberg: SUNP IN, NSE: SUNPHARMA, BSE: 524715], (“Sun Pharma” and includes its subsidiaries and/or associate companies) and Polaris Partners, will support the development of Lyndra’s pipeline, including oral weekly risperidone (LYN-005), which is near completion of a pivotal phase 3 study.
Lyndra’s investigational therapies are enabled by the company’s LYNX® drug delivery platform, which creates long-acting oral medicines that can be taken once weekly.
“We appreciate the support our investors are providing as we complete our risperidone phase 3 trials and continue the development of our pipeline of oral weekly therapies through this round of financing,” said Jessica Ballinger, Lyndra Therapeutics’ President and CEO. “This investment validates the LYNX platform and moves us forward in our plans to bring our lead product candidate, oral weekly risperidone, through the regulatory pathway and to patients.”
As part of the financing, Sun Pharma will receive an exclusive license to manufacture and market oral weekly risperidone (LYN-005), oral weekly dapagliflozin (LYN-045) and oral weekly aripiprazole (LYN-006) in six countries, including Brazil and India, pending further clinical development of these investigational candidates.
“This investment will provide Lyndra with the resources and leadership to achieve what we know is possible with the LYNX platform: a transformation of the relationship between people and their medicines,” said Amy Schulman, Lyndra Therapeutics co-founder, former CEO and Executive Chair of the Board. “This is an important step toward helping people adhere to their medication regimens and enabling them to better achieve their treatment goals.”
Prior to the development of the LYNX technology, oral pills have been limited to ‘extended release’ formulations, which do not last for more than a day. Lyndra’s LYNX drug delivery platform is enabled by more than 50 patented innovations in design, engineering and materials science to achieve dramatically reduced dosing frequency. The platform originated from the Bob Langer and Gio Traverso Laboratories at MIT, with which Lyndra has an exclusive technology license.
The round follows a $20.3 million Series D financing led by Polaris Partners that was completed in June 2023.
