100 M Private raise for Onco Biotech!

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Exclusive: Florida cancer biotech raises $100M Series A

Kyle LaHucik

Senior Reporter

Syncromune, a biotech startup working on combination immunotherapies, has put together a $100 million Series A, the company told Endpoints News.

The round was led by a new, undisclosed institutional investor and also included existing backer Wasatch Equity Partners, a spokesperson for the company told Endpoints on Thursday. The Series A also triggered the conversion of about $45 million worth of convertible notes, the company said.

The Fort Lauderdale, FL-based biotech expects to use the funds on a Phase 2a for its drug candidate SV-102 for metastatic castration-resistant prostate cancer (mCRPC), the spokesperson said. Enrollment was initiated at Lankenau Institute for Medical Research in the Philadelphia area, the company stated in a presentation earlier this month.

George Prendergast

Syncromune is working on an experimental procedure that freezes a tumor and then blasts it with a cocktail of multiple immunotherapies. By freezing some of the tumor, its innards spill out and the patient’s T cells then go after the tumors.

“This lets the body sort it out, rather than having to figure it out,” George Prendergast, CEO of the Lankenau Institute for Medical Research and scientific advisor to Syncromune, previously told Endpoints.

It’s part of a new generation of cancer vaccines and vaccine-like approaches to the oncology field.

Syncromune’s CEO is Eamonn Hobbs, who previously led specialty pharma companies Antares and Delcath Systems.