Synendos Therapeutics Raises CHF 20 Million in Series A Financing

November 12, 2020

• Breakthrough approach to developing safe and effective therapies for unmet needs in neuropsychiatric disorders
• Financing will allow Synendos Therapeutics to complete pre-clinical development and progress lead candidate through proof of concept clinical study
• Supported by strong European investor syndicate co-led by Kurma Partners and Sunstone Life Science Ventures

Synendos Therapeutics (Synendos), a biopharmaceutical company developing a new class of small molecules aimed at restoring the natural functioning of the endocannabinoid system in the brain with the potential for treating a wide range of Central Nervous System (CNS) disorders, announces it has raised CHF 20 million in a Series A financing co-led by Kurma Partners and Sunstone Life Science Ventures and participation from BERNINA BioInvest, Schroder Adveq, High-Tech Gründerfonds, Lichtsteiner Foundation, Essential Investments, Zürcher Kantonalbank and private investors.

Synendos is developing first-in-class inhibitors that modulate a newly identified drug target in the body’s endocannabinoid system, enabling restoration of endogenous cannabinoid levels that are suppressed in certain pathological conditions. The endocannabinoid system is a key neuromodulator system in the CNS involved in regulating various physiological and cognitive processes. Synendos’ newly developed selective endocannabinoid reuptake inhibitors (SERIs) act by increasing the levels of endogenous cannabinoids in a self-limiting mode of action, representing an innovative and potentially safer therapeutic approach to CNS disorders associated with anxiety, mood and stress-related disorders.

Incorporated in April 2019, Synendos Therapeutics was spun out of the University of Bern and the research consortium, NCCR TransCure. The novel technology stems from 10 years of solid research on endocannabinoid biology and pharmacology carried out at the university led by co-founders, Professor Jürg Gertsch and Dr Andrea Chicca. The research team led by Professor Jürg Gertsch is dedicated to drug discovery in the endocannabinoid system.

Currently in preclinical development, proceeds from the financing will be used to complete this development and advance Synendos’ lead drug candidate through safety and proof of concept studies in a relevant and well-defined disease indication, as part of early/initial clinical trials.

Dr Andrea Chicca, co-founder and CEO of Synendos Therapeutics, commented:

There are considerable neuropsychiatric complications and comorbidities associated with CNS disorders and, in today’s world, an increasing prevalence of anxiety-related conditions. Despite this, it has been 25 years since a new drug was approved for the treatment of neuropsychiatric disorders. This highlights the urgent need for new safe and effective treatments in this area and underpins Synendos’ mission to focus on the development of a novel drug technology to help combat anxiety, mood and stress-related disorders. We are very pleased to have attracted such a strong syndicate of world-class investors. In the validation of our science, they bring much more than just financing and will enable us to work towards reaching a clinical inflection point with an efficient and clearly-defined path.

Dr. Fabian Mohr, Investment Manager at High-Tech Gründerfonds, added:

We’ve been in contact with the founders quite early and were directly convinced of the technology, the planned development roadmap and the team. We are very happy for Synendos to be able to advance its drug candidates into clinical trials with the proceeds of this financing round and ultimately offer a new therapeutic option for CNS diseases with a high medical need in the future.

Contact:
Synendos Therapeutics Dr Andrea Chicca | Co-Founder & Chief Executive Officer
Email: info@synendos.ch

Optimum Strategic Communications Supriya Mathur / Charlotte Hepburne-Scott
Tel: +44 (0) 203 922 0891
Email: synendos@optimumcomms.com

About Synendos Therapeutics
Synendos Therapeutics is a biopharmaceutical company developing a new class of small molecules aimed at restoring the natural functioning of the endocannabinoid system in the brain with the potential for treating a wide range of Central Nervous System (CNS) disorders. Incorporated in April 2019, Synendos Therapeutics was spun out of the University of Bern and the drug discovery consortium, NCCR TransCure. The company’s novel technology stems from 10 years of solid research on endocannabinoid biology and pharmacology carried out at the University of Bern by co-founders, Professor Jürg Gertsch and Dr Andrea Chicca, and centres around the development of selective endocannabinoid reuptake inhibitors (SERIs). SERIs act by increasing the levels of endogenous cannabinoids in a self-limiting mode of action, representing an innovative and potentially safer therapeutic approach to CNS disorders, associated with anxiety, mood and stress-related disorders, than is currently available. www.synendos.com

About High-Tech Gründerfonds
High-Tech Gründerfonds (HTGF) is a seed investor that finances high-potential, tech-driven start-ups. With around EUR 900 million in total investment volume across three funds and an international network of partners, HTGF has already helped forge almost 600 start-ups since 2005. Driven by their expertise, entrepreneurial spirit and passion, its team of experienced investment managers and startup experts help guide the development of young companies. HTGF’s focus is on high-tech start-ups in the fields of digital tech, industrial technology, life sciences, chemistry and related business areas. To date, external investors have injected over EUR 2.7 billion into the HTGF portfolio via more than 1,600 follow-on financing rounds. HTGF has also successfully sold interests in more than 100 companies.

Investors in the public-private partnership include the Federal Ministry of Economics and Energy, KfW Capital, the Fraunhofer-Gesellschaft and 32 companies. Our Fund Investors

www.htgf.de/en

Contact
High-Tech Gründerfonds Management GmbH
Fabian Mohr, Investment Manager
T.: +4922882300181
f.mohr@htgf.de