The merged company, which will trade on the Nasdaq market under the symbol “SYBX”, is slated to advance Synlogic’s Synthetic Biotic medicines. The company’s platform uses synthetic biology to reprogram probiotic bacteria to treat metabolic and inflammatory diseases.
“The close of this merger, in combination with our recent financing, provides Synlogic with significant resources to move forward as a public company and realize our goal of developing a new class of living medicines that have the unique potential to compensate for dysfunctional pathways in serious diseases,” Synlogic’s president & CEO Jose Carlos Gutiérrez-Ramos said in prepared remarks.
“Earlier this year we initiated the first human clinical trial of our lead Synthetic Biotic investigational medicine for hyperammonemia, and in the first half of 2018 we expect to initiate clinical trials of a second Synthetic Biotic medicine candidate for the treatment of phenylketonuria. Our solid financial position enables us to continue to execute on advancing our novel development programs through the clinic to demonstrate the therapeutic potential of our Synthetic Biotic platform.”
Following the close of the merger, the combined company will have $100 million in cash and cash equivalents, Synlogic reported.
The company also said today that Michael Powell, formerly head of drug delivery at Genentech, and Richard Shea, CFO and treasurer of Syndax Pharmaceuticals, will join Synlogic’s board of directors.