Synlogic has landed a Nasdaq listing and an $82 million cash pile by simultaneously pulling off a reverse merger with Mirna Therapeutics and a series C round. The activity tees up the Jose Carlos Gutierrez-Ramos, Ph.D.-helmed synthetic biology startup to push its lead candidate into the clinic in the coming months.
Cambridge, Massachusetts-based Synlogic turned to a mix of new and existing investors including Arctic Aurora LifeScience, Atlas Venture, CLI Ventures, New Enterprise Associates (NEA) and OrbiMed for the $42 million series C. That round comes 15 months after Synlogic pulled in $40 million in a series B. And, when combined with the cash Mirna has left from its failed tilt at drug development, gives the company $82 million to fuel its move into the clinic.
READ MORE Synlogic backs onto Nasdaq by merging with Mirna
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