AI-powered peptide startup's $100m funding round backed by AstraZeneca and Pfizer
The biotech startup uses AI to develop treatments using peptides, an effort that's now boosted by Series A and A+ financing rounds, raising close to $100m.
Syneron Bio has completed Series A and A+ financing rounds in Beijing, raising close to US$100 million.
The Beijing-based AI-powered biotech startup, in a statement, revealed that top-tier investors backed the funding rounds, including the likes of AstraZeneca, AZ-CICC Healthcare Investment Fund, Pfizer Biotech Development Investment Fund, GL Ventures, 5Y Capital, Sinovation Capital, Lenovo Capital, Gree Capital and KHK fund.
Syneron said proceeds will bolster its Synova intelligent high-throughput macrocyclic peptide development platform.
“We are honored to receive the recognition and support of leading global pharmaceutical companies and top-tier investment institutions," said Dr. Xiao Zhang, Syneron Bio founder and CEO.
"This financing will significantly strengthen the development of our intelligent high-throughput macrocyclic peptide development platform, Synova, and provide the resources needed to advance multiple pipelines toward clinical stages.”
The company said it has built a pipeline targeting oncology and chronic diseases and has a team experienced in drug development and data science. It added that it completed multiple rounds of equity financing in less than three years, backed by several venture capital funds.
The company said the latest funding will support advancing multiple pipelines toward clinical stages.
The Recap
- Syneron Bio completed Series A and A+ rounds.
- Raised close to USD 100 million from multiple investors.
- Funding will advance multiple pipelines toward clinical stages.
