Print
Email
Print Edition StoriesFriday, May 30, 2008
Syndexa socks away $15M from Hittite Microwave founder, others
By Mass High Tech Staff
A Hittite Microwave Corp. founder has led a Series B round of financing for Cambridge drug developer Syndexa Pharmaceuticals Corp., Syndexa reports.
Yalcin Ayasli, a founder and former executive and board member at Chelmsford-based Hittite, was the lead investor in the $15 million round of private capital. Hittite (Nasdaq: HITT) is a maker of integrated circuits and other products, with a market capitalization of more than $1.2 billion as of May 30.
Syndexa, a developer of drugs to treat metabolic diseases, said it plans to use the infusion of capital to advance its pipeline of preclinical molecules into human trials and enhance its drug discovery technology. Its drugs are intended to target novel metabolic functions in the body to prevent obesity, type 2 diabetes and cardiovascular disease.
Syndexa was founded by scientists from Harvard University and the University of California San Diego. The firm said it has raised a total of $19 million in private equity. Ayasli will join Syndexa’s board of directors as part of the latest financing.
Comments
If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.
RSS Feeds
