Lyndra Therapeutics’ $55 Million Fundraising

Gunderson Dettmer represented Lyndra Therapeutics on the deal

Lyndra Therapeutics has raised $55 million in Series B financing, funds it will use for Phase II clinical trials, expansion of its Phase I pipeline and manufacturing scale-up. All original investors from the company’s $23 million Series A round, led by Polaris Partners, resubscribed, and new investors include HOPU Investments, Gilead Sciences, Invus, the Bill & Melinda Gates Foundation and Orient Life.

Lyndra is moving toward submitting an Investigational New Drug Application (IND) for a long-acting schizophrenia pill in 2019 in anticipation of starting a Phase II clinical trial in 2020. It also plans to bring other drug candidates, including its own therapies and drugs commercialized with partners, through Phase I, II and III clinical trials.

The Gunderson Dettmer team was led by Tim Ehrlich (Picture) with Vanessa Smith, Chris Sintetos and Joel Diamond.

Involved fees earner: Joel Diamond – Gunderson Dettmer; Timothy Ehrlich – Gunderson Dettmer; Christopher Sintetos – Gunderson Dettmer; Vanessa Smith – Gunderson Dettmer;

Law Firms: Gunderson Dettmer;

Clients: Lyndra Inc.;

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Author: Ambrogio Visconti