Sydnexis Secures $45 Million Series B Financing Led by Visionary Ventures and Bluestem Capital

10 August 2021 – SAN DIEGO, CA– Sydnexis, Inc., a clinical stage biopharmaceutical company with a proprietary formulation of low dose atropine for the treatment of progressive myopia, today announced the completion of a $45 million Series B financing led by Visionary Ventures, Bluestem Capital, and SC Master Fund, with participation from existing investors RA Capital Management, Longitude Capital, and Medicxi. The financing will be used to fund Sydnexis’ lead candidate, SYD-101, through completion of the fully enrolled pivotal Phase 3 STAAR study for the treatment of progressive myopia in children.

Sydnexis’ STAAR study is the largest pediatric myopia study globally to investigate the use of low dose atropine to retard progressive myopia. In this study, Sydnexis is evaluating two different concentrations of its proprietary atropine formulation SYD-101 (0.01% and 0.03%) versus a placebo control group. SYD-101 is designed to be a best-in-class product with maximum efficacy, comfort and 3-year stability at room temperature, all important product attributes when developing drugs for use in children.

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