Symic Bio raises $30m for peripheral vein graft failure therapy

Symic Bio said yesterday that it raised $30 million in a Series B financing round, led by existing investors and HEDA Ventures.

Funds from the round are slated to support the company’s clinical programs, including a drug designed to prevent peripheral vein graft failure, SB-030, and a therapy for pain management of osteoarthritis of the knee, SB-061.

The San Francisco-based company also said yesterday that it plans to launch a Phase III trial of SB-030 in 2018, following a pre-investigational new drug meeting with the FDA. Supported by interim results from the Phase I/IIa Shield study, the regulatory watchdog recommended that the company move forward with a single Phase III registration study.

Get the full story at our sister site, Drug Delivery Business News.

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