What is Symic Biomedical?
Symic Biomedical is a biopharmaceutical company dedicated to pioneering a new category of therapeutics focused on matrix biology. These innovative treatments are inspired by naturally occurring macromolecules that regulate the extracellular matrix, offering potential applications across a wide spectrum of diseases. The company's current clinical pipeline includes SB-061, aimed at disease modification and pain management for osteoarthritis, and SB-030, designed to prevent peripheral vein graft failure. Symic Biomedical is also exploring therapeutic avenues in fibrosis, oncology, and central nervous system disorders, positioning itself at the forefront of matrix biology innovation.
How much funding has Symic Biomedical raised?
Symic Biomedical has raised a total of $56M across 3 funding rounds:
Series A
$15M
Series B
$30M
Unspecified
$11M
Series A (2015): $15M with participation from Purdue Foundry Investment Fund, Lilly Ventures, Ally Bridge Group, Mission Bay Capital, Den Danske Forskningsfond, InCube Ventures, QB3 Partners, and Mitsui Global Investment
Series B (2017): $30M led by HEDA Ventures and Lily Ventures
Unspecified (2019): $11M supported by Cell Innovation Partners
Key Investors in Symic Biomedical
HEDA Ventures
HEDA Ventures is an investor with a focus on technology and potentially early-stage companies, as indicated by their involvement in Symic Biomedical's Series B round.
Cell Innovation Partners
Cell Innovation Partners is a venture capital firm specifically targeting next-generation biotechnology businesses, with a deep understanding of stem cell and regenerative medicine research, providing crucial risk capital for future biotech ventures.
Lilly Ventures
Lilly Ventures, rooted in the scientific tradition of Eli Lilly and Company, actively partners with life science companies, providing both financial and intellectual resources to accelerate the development of compelling innovations.
What's next for Symic Biomedical?
The recent major strategic investment in Symic Biomedical suggests the company is entering a crucial scaling phase, likely to accelerate clinical development and expand its research into new disease areas. This enterprise-level funding will be instrumental in advancing its lead candidates, SB-061 and SB-030, through further clinical trials and potentially preparing for commercialization. The strategic nature of the investment indicates strong confidence from backers in Symic Biomedical's unique approach to matrix biology and its potential to address significant unmet medical needs across oncology, fibrosis, and neurological conditions.
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