Sydnexis Secures $45 Million Series B Financing Led by Visionary Ventures and Blue Stem Capital
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Tuesday, August 10, 2021
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Sydnexis, Inc., a clinical stage biopharmaceutical company with a proprietary formulation of low dose atropine for the treatment of progressive myopia, today announced the completion of a $45 million Series B financing led by Visionary Ventures, Blue Stem Capital, and SC Master Fund, with participation from existing investors RA Capital Management, Longitude Capital, and Medicxi.
Key Points:
- Sydnexis, Inc., a clinical stage biopharmaceutical company with a proprietary formulation of low dose atropine for the treatment of progressive myopia, today announced the completion of a $45 million Series B financing led by Visionary Ventures, Blue Stem Capital, and SC Master Fund, with participation from existing investors RA Capital Management, Longitude Capital, and Medicxi.
- Sydnexis STAAR study is the largest pediatric myopia study globally to investigate the use of low dose atropine to retard progressive myopia.
- In this study, Sydnexis is evaluating two different concentrations of its proprietary atropine formulation SYD-101 (0.01% and 0.03%) versus a placebo control group.
- With more than 95 years of collective experience, Bluestem Capital is a private equity and venture capital firm currently with 25 portfolio companies.