Wilmington, Delaware-based Synnovation, a specialist in small-molecule therapeutics for cancer, has emerged from the shadows with a $102 million first-round financing led by Third Rock Ventures with participation from Nextech, Lilly Asia Ventures, Sirona Capital and Cormorant Asset Management.
The company’s lead programme, SNV1521, is a selective PARP1 inhibitor that has been shown to cross the blood-brain barrier and enter the central nervous system, making it a potential therapy for cancers that have spread to the brain. It is due to start phase 1 in the next couple of months.
