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SynOx Secures New Investment, Closing Series B at €84.8 Million to Advance Groundbreaking TGCT Therapy

Dublin, Ireland – SynOx, a clinical-stage biopharmaceutical company, announced it has raised additional funding in its Series B round, totaling €84.8 million. The financing was led by new investor Gilde Healthcare and supported by existing partners Forbion, HealthCap, and Bioqube Ventures. This capital will fund a pivotal Phase 3 trial of SynOx’s flagship therapy, emactuzumab, a novel CSF-1 receptor (CSF-1R) inhibitor aimed at treating Tenosynovial Giant Cell Tumour (TGCT).

As part of this latest funding, Arthur Franken, General Partner at Gilde Healthcare, joins SynOx’s Board of Directors. Franken, a seasoned venture and growth capital expert, emphasized the potential impact of emactuzumab, calling it “best-in-class” for TGCT patients.

Phase 3 TANGENT Study Underway

The company announced that the first patients have been dosed in its Phase 3 TANGENT trial, a global, randomized, placebo-controlled study that aims to assess emactuzumab’s efficacy and safety. Expected to enrol 130 patients, the trial’s primary measure is overall response rate (ORR), with secondary outcomes focusing on functional improvement, quality of life, and response duration.

TGCT, a debilitating, non-cancerous but aggressively growing tumor in joints like the knee, hip, and ankle, is caused by excessive CSF-1 production. Emactuzumab, designed to specifically inhibit CSF-1R, has shown promise in earlier trials with rapid action and long-lasting effects, potentially transforming the quality of life for TGCT patients.

CEO Statement

Ray Barlow, Ph.D., CEO of SynOx, expressed excitement about the new funding and trial progression: “With Gilde Healthcare joining our investor syndicate, we’re well-equipped to advance emactuzumab. This milestone underscores our commitment to TGCT patients worldwide, offering a novel treatment approach where options are limited.”

For more details on the TANGENT study, visit ClinicalTrials.gov (Identifier: NCT05417789).

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