KO Client Sydnexis Completes $45M Series B Financing
- KO Firm
- August 25, 2021
Sydnexis, Inc., a clinical stage biopharmaceutical company, has completed a $45 million Series B financing led by Visionary Ventures, Blue Stem Capital, and SC Master Fund. The KO team, led by partners Kevin Gibson and Brad Schoenfeld, represented Sydnexis.
The company sees progressive myopia (nearsightedness) in children as a “significant global unmet need,” and the disease has been linked to several concurrent sight-threatening eye conditions later in life. Sydnexis has a proprietary formulation of low dose atropine for the treatment of progressive myopia.
The financing will be used to fund Sydnexis’ lead candidate, SYD-101, through completion of the fully enrolled pivotal Phase 3 STAAR study for the treatment of progressive myopia in children. Existing investors RA Capital Management, Longitude Capital and Medicxi also participated in the Series B financing.
“We are committed to developing a highly differentiated myopia therapy for pediatric progressive myopia where there is an acute need for a safe and efficacious treatment. We are excited by the investment from top-tier venture groups as it validates the company’s technology and strategy to pursue SYD-101, which has the potential to be the best-in-class therapy for myopia,” said Sydnexis CEO Kenneth J. Widder, MD, in a statement.
KO attorney Michael Wysolmerski and corporate paralegal Caitlyn Knudson also worked on the financing.