Synlogic Successfully Closes Public Offering, Raising $21 Million for Advancing Biotherapeutics

Synlogic, a clinical-stage biotechnology company, has announced the successful closing of its underwritten public offering, raising approximately $21 million. The offering consisted of shares of common stock and accompanying warrants, with Chardan Capital Markets acting as the sole book-running manager.

The funds raised from the offering, combined with existing cash and cash equivalents, will provide Synlogic with sufficient resources to support its planned operations until the first half of 2025. This financial boost will enable the company to continue advancing its novel, oral, non-systemically absorbed biotherapeutics, aimed at transforming the treatment of serious diseases.

Synlogic’s late-stage pipeline focuses on rare metabolic diseases, with its lead candidate, labafenogene marselecobac (SYNB1934), currently being studied as a potential treatment for phenylketonuria (PKU) in a global, pivotal Phase 3 study called Synpheny-3. The company also has additional product candidates targeting diseases such as homocystinuria (HCU), enteric hyperoxaluria, gout, and cystinuria.

Synlogic’s approach is based on the Synthetic Biotic platform, which utilizes precision genetic engineering to develop GI-restricted, oral medicines that can consume or modify disease-specific metabolites. This approach holds promise for addressing inborn errors of metabolism, inflammatory and immune disorders, and other conditions where disease-specific metabolites pass through the gastrointestinal tract.

The company is actively engaged in research collaborations, including a partnership with Roche focused on inflammatory bowel disease (IBD) and a collaboration with Ginkgo Bioworks in synthetic biology. These collaborations have contributed to the development of two pipeline programs to date.

Synlogic’s commitment to advancing innovative biotherapeutics and its strong financial position following the successful public offering position the company well for future growth and the development of much-needed treatment options for patients with serious diseases.

For more information about Synlogic and its pipeline, please visit www.synlogictx.com or follow the company on Twitter, LinkedIn, Facebook, or Instagram.