SynOx Therapeutics, a biopharmaceutical startup based in Dublin and Oxford, has raised $75 million in a Series B financing round. This funding will support the clinical trials of its novel treatment, emactuzumab, designed to offer an alternative to surgical interventions for patients with tenosynovial giant cell tumor (TGCT), a rare type of tumor that affects the joints and reduces mobility.
TGCT is a chronic disease that affects the soft tissue lining of joints and tendons, particularly in the knees, hips, and ankles. It can severely impair mobility and quality of life. Current treatments typically involve surgery, but more than half of the patients experience tumor recurrence within three years.
Emactuzumab, developed by SynOx, has shown promising results in early trials, demonstrating substantial clinical activity with an objective response rate of 71% and rapid, robust tumor reduction. It has also been noted for its long-lasting effects and significant improvements in patients’ functional abilities.
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Advancing to Phase 3 Trials
The Series B funds will enable SynOx Therapeutics to initiate phase 3 trials to further assess the efficacy and safety of emactuzumab for patients with TGCT. Ray Barlow, CEO of SynOx Therapeutics, expressed that this investment marks a transformational period for the company, allowing them to generate registrational data essential for seeking marketing approval.
Strong Support from Investors
The funding round was co-led by Forbion, HealthCap, and Bioqube Ventures. The significant investment reflects confidence in SynOx’s potential to bring a highly effective, next-generation therapy to market. This therapy is anticipated to provide a much-needed option for patients suffering from this debilitating disease, distinguishing itself from other treatments with its rapid onset and sustained response.
The addition of experienced leaders such as Dr. Carlo Incerti and pharma investor Jon Edwards to SynOx’s board of directors is set to further strengthen the company’s strategy and its capacity to drive forward this cutting-edge therapy for rare diseases.
SynOx Therapeutics continues to advance its mission to deliver innovative treatments that can profoundly impact patients’ lives while navigating the complex landscape of medical and regulatory challenges.
