Syndax takes in $6M for cancer therapeutics

Fri, 08/06/2010 - 6:38am
Mass High Tech: The Journal of New England Technology

Syndax Pharmaceuticals Inc., a cancer therapeutics developer in Waltham, has raised $6 million of a planned $7 million securities offering, according to a regulatory filing from Wednesday.

Syndax makes an oral HDAC inhibitor, called entinostat, that is designed to aid a cancer patient’s response to treatment by modifying tumor characteristics. The company was co-founded in San Diego in 2005 by Eckard Weber of Domain Associates and Ronald Evans of the Salk Institute for Biological Studies and Howard Hughes Medical Institute. It was founded with an exclusive license from the Salk Institute for the intellectual property from Evans’ research on histone deacetylase (HDAC) inhibition and the regulation of nuclear receptors.

Company president and CEO Joanna Horobin was not immediately available for comment on the financing.

In February, Syndax raised $9 million of a planned $16 million securities offering.  Prior to that, the company pulled in $40 million in a Series A financing round in APril 2007, with the funding co-led by Domain Associates and MPM Capital, with additional backing by Avalon Ventures, Forward Ventures and Pappas Ventures.





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