Synklino completes Series A raise of EUR 29.8 million to advance clinical trials of its drug candidate for the treatment of Cytomegalovirus (CMV)

Synklino completes Series A raise of EUR 29.8 million to advance clinical trials of its drug candidate for the treatment of Cytomegalovirus (CMV)

• PKA pension fund lead investment, alongside The Danish Growth Fund and Eir Ventures
• New financing will advance clinical trials with Synklino’s drug candidate SYN002 for the treatment of cytomegalovirus (CMV)

Copenhagen, Denmark, 8 June 2022 – Synklino, an emerging biotech company developing breakthrough drugs for the treatment of chronic viral infections, has completed a Series A fundraise of EUR 29.8 million (DKK 222 million / USD 31.9 million) accelerating its development plans towards significant clinical milestones.

With the capital raised, Synklino will advance its drug candidate SYN002 for the treatment of Cytomegalovirus (CMV), into both ex vivo and in vivo Phase 1 clinical trials and generate safety and efficacy data establishing a solid foundation for expanding the Company’s pipeline, and widening the strategic options for further value creation.

CMV is the main agent involved in infectious complications following transplantation, with major risk for morbidity and increased hospital readmissions and is prevalent in around 60% of adults. Synklino’s drug candidate SYN002 has the unique potential to eliminate CMV from infected patients by targeting both lytic and latent infection.

Thomas Kledal, co-founder and Chief Executive Officer, said: “This financing round is a game changer for Synklino. We are now able to prepare and initiate clinical trials with SYN002 in organs and in patients concurrently, providing more paths to reach significant and value creating milestones in a shorter timeline. Since the capital raise in November 2021, we have had strong progress in our preclinical activities and are on track to deliver on our goal for the first half of 2023 of completing our clinical trial application.”

John Haurum, Chair of the Board, commented: “It is a validation of Synklino’s potential that the company attracts notable investors like PKA and Maj Invest. We are also thankful for the continued support from our existing shareholders, including The Danish Growth Fund and Eir Ventures. The company’s management has delivered as promised on the development plans, and the strong cash position means that we can focus on the business in an otherwise challenging market for biotech and funding.”

Synklino’s Series A raise is testament to the high caliber of innovative biotech companies emerging from the Nordic region and the confidence of investors in identifying promising new therapies for patients. Synklino is a result of Denmark’s strong global position in the biotech industry, characterised by tight cooperation between health care institutions, academia, and the industry.

Michael Nellemann Pedersen, Chief Investment Officer in PKA, stated: “Synklino is a great example of the type of life science companies that we aim to support through our co-investments with Maj Invest. Being a pension fund for hundreds of thousands of health care professionals, we have an ambition to contribute to the development of innovative products supporting our members’ efforts to safe lives while at the same time expecting the investment to generate a high return and contribute to the pension savings of our members. We believe, Synklino will address a large, unmet patient need and with a competent leadership in front, the company fits perfectly into our evolving portfolio of venture companies.”

For additional information, please contact:

Synklino

Thomas Kledal, CEO
tnk@synklino.com

+45 2012 1656