Synakis Corp., a biotechnology company based in Toronto, has successfully closed an oversubscribed pre-seed financing round, raising CAD $2.6 million. The funds will be used to advance SNK-125, a vitreous replacement therapy for retinal detachment, through GLP toxicology studies and lead optimization for ocular therapeutic delivery. The financing was co-led by Toronto Innovation Acceleration Partners (TIAP) and Chiefswood Private Capital Inc., with additional contributions from the Ontario Centre of Innovation and the Canadian Glycomics Network. Synakis’ innovative hydrogel platform aims to improve ocular delivery and replace current treatments for retinal detachment, which often result in blurry vision and uncomfortable posturing. The company’s leadership, including CSO Molly Shoichet and CEO Thierry Nivaggioli, emphasizes the importance of advancing technologies to preserve vision and address the limitations of existing treatments. Synakis originated from the University of Toronto and focuses on developing solutions for retinal diseases and glaucoma.
Has Synakis successfully closed its oversubscribed pre-seed round?
