Gates and Chinese private equity group cheer on Lyndra's PhII plans with $55M raise
With backing from the Gates Foundation and some new Chinese private equity cash, Watertown, MA-based Lyndra has just packaged together a $55 million funding round to back their expanded quest to kill the daily pill approach to meds.
Like dozens of companies before it, Lyndra got started with some ideas hatched in the lab of MIT’s Bob Langer — and seed money from Polaris. Now the biotech says that after its first small human proof-of-concept study wrapped last fall, they’re ready to move into Phase II with their first program focused on a reformulated schizophrenia therapy designed to replace a daily regimen with a long acting treatment with a much lower burden on pill count.
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