Bill Gates-Backed Lyndra Therapeutics Secures $55 Million Series B to Advance Ultra-Long-Acting Oral Drug into Phase II Trials

Recently, VCBeat (WeChat official account: vcbeat) learned that Lyndra Therapeutics announced the completion of a $55 million Series B financing round to expand the scale of Phase II clinical trials for its ultra-long-acting oral medications.

This round of financing was led by Polaris Partners, with participation from HOPU Investments, Gilead Sciences, Invus, the Bill & Melinda Gates Foundation, and Orient Life. It is reported that as early as April 2017, Lyndra Therapeutics had secured a $23 million Series A financing round also led by Polaris Partners.

Lyndra Therapeutics is a biopharmaceutical company dedicated to the development of ultra-long-acting oral medications for various diseases. These medications are administered in the form of traditional oral capsules, with the distinctive feature that patients do not need to take them daily; instead, they receive a single dose on a weekly or monthly basis. Once the capsule enters the stomach, it provides sustained and stable therapeutic effects until the drug is fully depleted and subsequently excreted through the gastrointestinal tract. This ultra-long-acting oral medication can significantly reduce drug side effects, improve medication adherence, and lower healthcare costs.

Amy Schulman, CEO and Co-Founder of Lyndra Therapeutics, stated, “From proof-of-concept to clinical trials, our team has been dedicated to transforming the way we serve global health. We are now ready to initiate Phase II clinical trials for our ultra-long-acting oral medication.”

Cliff Chau, Partner at HOPU Investments, stated, “The shift from daily to weekly oral medication is unprecedented. Lyndra Therapeutics’ breakthrough advancements in oral drug delivery systems will fundamentally transform current models of clinical care.”

It is reported that Lyndra Therapeutics is preparing to submit an Investigational New Drug (IND) application for a long-acting schizophrenia medication this year, with the aim of initiating Phase II clinical trials in 2020. In addition, research and development efforts for other drug candidates will proceed in an orderly manner.

Polaris Partners is a venture capital firm with over 20 years of history, headquartered in Massachusetts, USA, dedicated to providing financial support to the healthcare and technology sectors. The firm has invested in more than 250 companies and manages over $4 billion in assets.

Gilead Sciences is a publicly traded biopharmaceutical company dedicated to the development and production of drugs for HIV/AIDS, hepatitis B, hepatitis A, and various infectious diseases. The company is headquartered in California, United States.

Invus is a venture capital firm headquartered in New York, USA. The company currently manages over $4 billion in assets and maintains offices in New York, London, Paris, and Hong Kong.

The Bill & Melinda Gates Foundation, a grant-making foundation co-founded by Bill Gates and his wife Melinda Gates in 2000 and headquartered in Seattle, Washington, is dedicated to investing in education and health in developing countries.

(Compiled by: Feng Yutong)