Lyndra Therapeutics – a clinical-stage biopharmaceutical company – recently announced the closing of a $101 million Series E financing round. The proceeds of the funding round, led by Sarissa Capital and including Sun Pharmaceutical Industries Limited 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.
As part of the funding, 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.
Before the development of the LYNX technology, oral pills were limited to ‘extended release’ formulations, which do not last for over a day. And 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.
This funding round follows a $20.3 million Series D financing led by Polaris Partners that was completed in June 2023.
KEY QUOTES:
“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. 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.”
- Jessica Ballinger, Lyndra Therapeutics’ President and CEO
“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. This is an important step toward helping people adhere to their medication regimens and enabling them to better achieve their treatment goals.”
- Amy Schulman, Lyndra Therapeutics co-founder, former CEO and Executive Chair of the Board
