Skip to main content
| News

Synendos raises 20 million Swiss francs

12.11.2020

Synendos Therapeutics has concluded a Series A financing round, raising 20 million Swiss francs. The Basel biotech will use the funds to advance the pre-clinical research on molecules for treating anxiety-related conditions. Synendos was supported by BaseLaunch, the accelerator and incubator of Basel Area Business & Innovation.

Andrea Chicca. CEO of Synendos Therapeutics, based in the Switzerland Innovation Park Basel Area in Allschwil

Synendos Therapeutics is developing a new class of small molecules aimed at restoring the natural functioning of the endocannabinoid system in the brain. This has the potential for treating a wide range of anxiety, mood and stress-related disorders. According to a press release, the 20 million francs raised in the Series A financing will allow Synendos Therapeutics to complete pre-clinical development on these molecules. In achieving this success, the startup was supported by BaseLaunch, the incubator of Basel Area Business & Innovation, the investment and innovation promotion agency. As a result, Synendos has received key early stage financial and operational support in the early development of the company.

“Raising institutional financing is always challenging but doing so in the middle of a global pandemic is truly an extraordinary achievement,” said  Stephan Emmerth, Director Therapeutic Innovation and BaseLaunch. “So, a big congratulation to the team of Synendos on this important step towards developing game changing treatments for patients suffering from neuropsychiatric disorders.” BaseLaunch members have received investment of over 180 million francs overall.

The financing round was led by Kurma Partners and Sunstone Life Science Ventures. Other investors included Bernina Bio Invest, Schroder Adveq, High-Tech Gründerfonds, Lichtsteiner Foundation, Essential Investments, Zürcher Kantonalbank and private investors. Their investment will allow Synendos to complete pre-clinical development and progress lead candidate through proof of concept clinical study. Representatives from Kurma, Sunstone and Benina Bio Invest will also be joining the Synendos Board of Directors.

Synendos Therapeutics is based in the Switzerland Innovation Park Basel Area in Allschwil.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Gamma Technologies acquires ProFEMAG portfolio
Advanced Manufacturing/AI, Basel Area Business & Innovation, ICT, Innovation, Invest

Gamma Technologies acquires ProFEMAG portfolio

The Basel-based firm ProFEMAG AG has sold its FEMAG software for electrical machine applications to Gamma Technologies. The company based...

Read More
Databaum establishes headquarters in Basel
Basel Area Business & Innovation, ICT, Innovation, Invest, Life Sciences / biotech

Databaum establishes headquarters in Basel

Databaum is establishing its headquarters in Basel and plans to grow from its location there. The startup provides the agricultural...

Read More
Clinerion launches patient information platform
Basel Area Business & Innovation, Digital Health, ICT, Innovation, Invest, Life Sciences / biotech

Clinerion launches patient information platform

Basel-based Clinerion is introducing its machine learning platform. It comprises a global network of hospitals and enables researchers to recognize...

Read More
New innovation campus opens in the Basel Area
Basel Area Business & Innovation, Innovation, Invest, Life Sciences / biotech, Switzerland Innovation Park

New innovation campus opens in the Basel Area

The Main Campus of the Switzerland Innovation Park Basel Area was officially opened on October 29. In his speech, Federal...

Read More
Sumitovant acquires all shares in Myovant
Basel Area Business & Innovation, Innovation, Invest, Life Sciences / biotech

Sumitovant acquires all shares in Myovant

Sumitovant is in the process of making Basel-based Myovant Sciences a wholly owned subsidiary by acquiring a 100 percent shareholding...

Read More
VectivBio raises 125 million US dollars in stock sale
Basel Area Business & Innovation, Innovation, Invest, Life Sciences / biotech

VectivBio raises 125 million US dollars in stock sale

VectivBio has announced the closing of the subscription offer for 16,700,000 ordinary shares. The Basel-based biotechnology firm has generated gross...

Read More
1 2 3 29

Do you have a question? We'd like to hear from you.