| 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 accelerator and 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

Holmusk opens new office in Basel
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Holmusk opens new office in Basel

Holmusk has opened an office in Basel. The company from Singapore develops digital therapies on the basis of data analysis....

Read More
Zifo RnD Solutions coming to Basel
Basel Area Business & Innovation, Innovation, Invest

Zifo RnD Solutions coming to Basel

Zifo RnD Solutions, a global provider of IT solutions for research-based organizations, opens its latest subsidiary in Basel. With Zifo...

Read More
Announcing the chosen ventures for the DayOne Accelerator (2020/2021)
Basel Area Business & Innovation, Innovation

Announcing the chosen ventures for the DayOne Accelerator (2020/2021)

The DayOne Accelerator ventures for 2020/21 have been chosen. Over 100 teams applied for the program which will run from...

Read More
«We will show the new product at the Olympic Games 2021 in Tokyo»
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

«We will show the new product at the Olympic Games 2021 in Tokyo»

The new Basel Area Business & Innovation Podcast offers exciting conversations with interesting interview partners. The first guest is surgeon...

Read More
Announcing the final winners of the i4Challenge 2020
Basel Area Business & Innovation, Innovation

Announcing the final winners of the i4Challenge 2020

The expert jury of the i4Challenge selected this year's winners. The solutions from the field of Industry 4.0 range from...

Read More
Patients stand to benefit from innovative tech project
Basel Area Business & Innovation, Innovation, Invest, Switzerland Innovation Park

Patients stand to benefit from innovative tech project

The investment and innovation promotion agency Basel Area Business & Innovation is joining forces with several partners to realize a...

Read More
1 2 3 38

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