Lyndra Secures $101M for Drug Development
Lyndra Therapeutics, a clinical-stage biopharmaceutical company, has announced a successful $101 million Series E funding. Sarissa Capital led the round, with significant contributions from Sun Pharmaceutical Industries Limited and Polaris Partners. This funding will advance Lyndra’s pipeline, focusing on oral weekly risperidone (LYN-005).
“We appreciate our investors’ support as we complete our risperidone phase 3 trials,” said Jessica Ballinger, President and CEO of Lyndra. The funding validates Lyndra’s LYNX® drug delivery platform. It also propels oral weekly risperidone towards regulatory approval and patient access.
Lyndra’s LYNX® platform is revolutionizing oral medication. It enables long-acting oral medicines with weekly dosing. This technology differs significantly from traditional ‘extended release’ pills, which only last a day.
Amy Schulman, co-founder and Executive Chair, highlighted the platform’s potential. “This investment will transform the relationship between people and their medicines,” she said. The LYNX platform aims to improve medication adherence and treatment outcomes.
Sun Pharma acquires the exclusive license to market three oral weekly clinical candidates in six countries as part of the deal. These include Brazil and India, subject to further clinical development.
Lyndra’s LYNX technology, originating from MIT’s Langer and Traverso Laboratories, holds over 50 patents. It promises a significant reduction in dosing frequency, a breakthrough in drug delivery. The Series E round follows a $20.3 million Series D round completed in June 2023, led by Polaris Partners.
