Synspira Therapeutics Announces Expanded Agreement with Cystic Fibrosis Foundation to Advance Promising Treatments for Cystic Fibrosis
CF Foundation Adds Up to $14 Million in New Funding, For Total Commitment of Up To $22.5 Million
FRAMINGHAM, Mass., Oct. 20, 2020 /PRNewswire/ -- Synspira Therapeutics, a clinical-stage biopharmaceutical company dedicated to improving the lives of people with cystic fibrosis (CF) and other rare diseases, announced today that the Cystic Fibrosis Foundation has made equity and structured investments in the company of up to $14 million in additional funding. The new funding brings the Foundation's total commitment to $22.55 million. In addition, the Miller Family Trust, a founding investor in Synspira, will continue to invest along with the CF Foundation.
"This investment and development collaboration will enable Synspira to complete preclinical and initial clinical development for SNSP003 while also advancing SNSP113 through late stage clinical studies," said Robert Gallotto, Synspira's president and chief executive officer. "Our many longstanding collaborations with the CF Foundation underscores our commitment and mutual sense of urgency as we work to bring life-changing therapies to people living with CF and other serious rare disorders."
The funding will allow Synspira to rapidly advance the development of the company's novel polycationic glycopolymer SNSP113, currently in Phase 2 clinical studies, for the treatment of pulmonary infections and complications. In addition, the funding will accelerate SNSP003, Synspira's first-in-class orally delivered non-porcine enzyme replacement therapy designed to treat Malabsorption Syndromes and exocrine pancreatic insufficiency. Lung damage (bronchiectasis) and pulmonary infections as well as malabsorption and gastrointestinal concerns remain leading causes of progressive decline and treatment burden for people living with cystic fibrosis.
Cystic fibrosis causes a buildup of mucus in the respiratory system, which creates an environment for bacterial growth. As a result, CF patients often have persistent pulmonary infections that may not respond well to antibiotic treatments and can lead to a relentless cycle of inflammation, bronchiectasis and decline in lung function. Malabsorption Syndromes and exocrine pancreatic insufficiency are life-threatening issues that result from a defect in the digestion and absorption of macronutrients (fat, protein, carbohydrate). Between 85-90% of people with CF are pancreatic insufficient and require pancreatic enzyme replacement therapy .
About Synspira Therapeutics
Synspira Therapeutics Inc. is a clinical-stage biopharmaceutical company dedicated to significantly improving the lives of people with cystic fibrosis (CF) and other rare diseases. Inspired by patients, Synspira is focused on developing a rationally designed portfolio of products that can make a life-changing impact and improve the quality of life of patients. Synspira is working to advance two novel products (SNSP113 and SNSP003) intended to provide better clinical outcomes and reduce treatment burden in pulmonary disease as well as malabsorption syndromes and exocrine pancreatic insufficiency. SNSP113, Synspira's lead product, is in a Phase 2 clinical study in people with cystic fibrosis. Synspira is a privately held company headquartered in Framingham, MA.
SOURCE Synspira Therapeutics
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