The Sciety syndicate invests in Synartro that develops a novel drug for osteoarthritis
The Sciety syndicate invests in Synartro, which uses existing drugs with proven efficacy to develop an improved drug treatment of knee osteoarthritis. The new capital will be used to complete the pre-clinical development. The company plans to go public to raise capital for phase 1 clinical trials in 2021.
Synartro’s vision is to contribute to better quality of life for people suffering from osteoarthritis. Osteoarthritis affects more than 240 million people globally and is one of the most common causes of chronic pain and disability in Europe and the United States. Today, only 50% of those affected receive adequate pain relief.
Based on patented drug delivery technology and new use of drugs with proven safety and efficacy, Synartro is developing a novel therapy for knee osteoarthritis. With a unique covalent bond between diclofenac and hyaluronan, the drug candidate can potentially offer therapeutic benefits such as reduced side effects, prolonged pain relief, and reduction of inflammation and pain.
“Approximately 24 million people with knee osteoarthritis are treated with drugs. Current market-leading products are associated with side effects on the gastrointestinal system and the cardiovascular system, addiction or pain and swelling. Drugs with fewer side effects and improved efficacy are needed to meet the needs of the ageing population”, says Andreas Lindblom, CEO of Sciety.
“The collaboration with Sciety has given us new shareholders, several of whom have extensive experience in life science, which will be valuable in our continued development. We now look forward to complete our pre-clinical trials and to begin clinical studies in 2021”, says Synartro’s co-founder and chairman of the board Fredrik Lehmann.
The issue of shares was fully subscribed in less than a week and one of the major investors was the investment company Linc AB.
Sciety is the leading investment syndicate in the Nordics with an exclusive focus on life science and health tech. Our mission is to help life science innovations to reach their full potential.
By combining experience from life science and finance we select promising companies in the industry. We invest own funds in all companies that pass our selection process and offer the investment syndicate to co-invest on the same terms. The syndicate comprises venture capital firms, family offices, and business angels.
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