Syrrx completes $54 million private placement
The private placement, which was led by Lombard Odier & Cie, included Bay City Capital, Chemicals and Materials Enterprise Associates (CMEA), CIBC, Cooper Hill, Invesco Global Health Science Fund, Jaspers, Joe Lewis, MPM Asset Management, Versant Ventures, Wagner asset Management and Alex Zaffaroni.
We are extremely pleased with the results of this financing effort and delighted to receive continued endorsement from our investors, said Wendell Wierenga, Syrrx's CEO. This round of financing will enable Syrrx to deepen its commitment to industrializing protein structure determination with breakthrough technologies and add important competencies that will enable us to forward integrate to become a drug discovery company.
Earlier this month, Syrrx announced the formation of a strategic alliance with the Genomics Institute of the Novartis Research Foundation (GNF) for the co-development of novel tools to transform the science of structural biology into an industrial process. Together the two companies have developed a series of new approaches and technologies, designed to bypass bottlenecks in protein structure determination.