Synlogic Raises $45 Million in Public Offering to Advance Treatments for Metabolic Disorders
September 23, 2021
Synlogic, a clinical stage company that applies synthetic biology to develop novel medicines, raised $45 million in an underwritten public offering of 15 million shares priced at $3.00 per share.
In addition, Synlogic has granted to the underwriter a 30-day option to purchase up to 2,250,000 additional shares of common stock at the public offering price, less underwriting discounts and commissions.
Synlogic leverages the tools and principles of synthetic biology to genetically engineer probiotic microbes (Synthetic Biotics) to perform or deliver critical functions missing or damaged due to disease. The company’s platform combines synthetic biology expertise with an innovative manufacturing approach and translational science to build a pipeline of live bacterial, first-in-class Synthetic Biotic medicines. By bringing together molecular biology, microbial engineering, and disease physiology with its proprietary library of tools and modular components, such as state-of-the art metabolic gene circuitry and regulatory genetic switches that activate the medicine in its intended environment, the company can produce bacterial microbes designed to perform specific therapeutic functions.
The company’s initial focus is on metabolic disorders with an initial focus on a treatment for phenylketonuria (PKU), a rare inborn error of metabolism caused by a defect in the gene encoding phenylalanine hydroxylase (PAH), a liver enzyme that metabolizes Phe. Phe is an essential amino acid that enters the body as a component of dietary protein and can be toxic if it accumulates in the blood and brain.
SYNB1618 is a synthetic biotic medicine in phase 2 studies that is engineered to execute a programmed metabolic pathway designed to consume Phe and convert it into harmless metabolites and has been shown to effectively break down phenylalanine in the GI tract of both healthy volunteers and patients.
Author: Rare Daily Staff
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