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Synageva BioPharma Corp. has landed a $25 million private equity funding to support development of the Lexington biotech’s enzyme replacement therapy, SBC-102.
The $25 million brings the company’s funding up to $70 million in the last two and a half years.
SBC-102 is currently being tested in worldwide clinical studies as an enzyme replacement therapy for Lysosomal Acid Lipase (LAL), a life-shortening disease, with no currently approved treatments, that can cause liver failure and death. The company has two other enzyme replacement therapies, to treat Lysosomal Storage Disorders, as well as two non-LSD programs to treat potentially fatal conditions.
Synageva noted in a press release that it brings orphan therapies to patients. In November, the company announced that its SBC-102 treatment won orphan drug status from the European Medicines Agency (EMA). Prior to that, in July, SBC-102 landed orphan drug designation from the U.S. Food and Drug Administration.
Synageva transplanted its headquarters in 2008 from Atlanta, where it operated under its former name AviGenics, to Waltham, before moving again in September 2010 to Lexington.
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