Synakis Corp., a biotechnology company based in Toronto, has successfully closed an oversubscribed CAD $2.6 million pre-seed financing round. The funds are intended to advance the development of SNK-125, a vitreous replacement therapy for retinal detachment. The financing will support the completion of GLP toxicology studies by early 2027, paving the way for an Investigational Testing Authorization filing with Health Canada. The round was co-led by Toronto Innovation Acceleration Partners (TIAP) and Chiefswood Private Capital Inc., with additional investments from the Ontario Centre of Innovation and the Canadian Glycomics Network. Synakis’ proprietary hydrogel platform is designed for safe ocular delivery, aiming to improve treatments for retinal detachment by eliminating the need for blurry vision and face-down posturing associated with current methods. The company, spun out of Professor Molly Shoichet’s laboratory at the University of Toronto, is focused on developing innovative ocular therapies to preserve vision.
Has Synakis Successfully Closed Its Oversubscribed Pre-Seed Round?
