Zurich, Switzerland, January 8, 2009 – Aravis Venture II today announced that it co-led the closing of a CHF 32 M (USD 29 M) Series B private financing in Synosia Therapeutics, a Swiss clinical stage biotechnology company developing treatments in Neurology and Psychiatry. Aravis Venture II led this investment round together with Investor Growth Capital of Sweden and was joined by Swiss Helvetia Fund as well as existing investors of Synosia Therapeutics. Synosia will use the funding for the ongoing development of it four compounds in phase II clinical programs. As part of this Series B financing, Jean- Philippe Tripet of Aravis joined Synosia’s board of directors.
At the same time, another Aravis II portfolio company, S*BIO, announced a collaboration with Onyx Pharmaceuticals for which it received a USD 25 M upfront payment and equity Investment with further potential future options & license fees and milestone payments worth up to USD 525 M. Aravis II was colead investor in the USD 26 M Series B financing in October 2008 for this Singaporean oncology company.
“We are delighted to be announcing this new investment in Synosia Therapeutics at the same time as an value enhancing deal from our portfolio company S*BIO,” commented Jean-Philippe Tripet managing partner and founder of Aravis. “We were particularly impressed by the quality and breadth of Synosia’s portfolio and by the strength of its management team.”
About Aravis Venture
Aravis is a Swiss-based venture capital organisation managing two funds focused on life science (Aravis Biotech I & II) and a third fund focused on renewable energy (Aravis Energy I). Since 1995 the Aravis anagement team have invested over USD 600 million in more than 80 companies. As well as providing venture capital backing, Aravis also takes a hands-on approach to highly promising companies offering a unique international network that combines decades of experience in science, operations and financing. With a disciplined investment process and Aravis' hands on approach in supporting management, the companies that Aravis has invested in have shown a comparatively low failure rate and many have grown to become some of the leading companies in their fields.
For more information visit www.aravis.ch
Tel: +41 43 499 2000
College Hill Life sciences
Tel: +49 89 5700 1806
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About Synosia Therapeutics
Synosia Therapeutics develops and intends to commercialise innovative and clinically differentiated products for unmet medical needs in psychiatry and neurology. The privately-owned company has in its pipeline six clinical-stage compounds acquired through key partnerships with Novartis, Roche and Syngenta. Two of the compounds are marketed drugs being tested in new indications to extend their reach into neurological and psychiatric diseases with high unmet medical need, including anxiety and Parkinson’s disease. Synosia’s headquarters is in Basel, Switzerland. For more information visit www.synosia.com
The original press release from Synosia Therapeutics can be found here:
About S*BIO Pte Ltd
S*BIO is a privately-held biotech company from Singapore focused on the research and clinical development of novel targeted small molecule drugs for the treatment of cancer with leading programs around histone deacetylases (HDAC) and kinases. In line with its vision to be a leading fully-integrated oncology-focused biotech company in Asia Pacific, S*BIO has established a state-of-the-art R&D infrastructure, complemented by a strong clinical development team. S*BIO has links with a network of medical oncologists in Asia Pacific and its investors include Bio*One Capital, Aravis Ventures, Novartis Bioventures and other international funds.
For more information visit www.sbio.com
The original press release from S*BIO Pte Ltd can be found here: