Synchroneuron Completes $6 Million Series A Financing to Fund Development of a Novel Treatment for Movement Disorders

February 6, 2012

Waltham, MA -- Synchroneuron Inc., a privately-held biopharmaceutical company, today announced the completion of its Series A financing with a $6 million investment from Morningside Technology Ventures Ltd.

Synchroneuron is engaged in developing new therapies for tardive dyskinesia (TD) and other related movement disorders.  The company was founded by inventor and neurologist Dr. Barry Fogel and the principals of Accellient Partners.  Accellient is led by Dr. William Kerns, an entrepreneur with extensive drug development experience in bringing new therapies through IND-enabling programs, regulatory approvals and Phase1/Phase 2 clinical trials.

Tardive dyskinesia (TD) is a chronic, usually irreversible and often disfiguring movement disorder caused by exposure to dopamine antagonists, antipsychotic medications and selected drugs used to treat nausea and vomiting.  There are currently no FDA-approved therapies for TD.  Synchroneuron is developing a novel drug therapy that simultaneously affects excitatory and inhibitory pathways.   The company expects to start Phase 1 clinical trials in 2012.

"By developing a treatment for patients with TD and other movement disorders, Synchroneuron has the potential to bring relief to millions of patients, globally, who have limited therapeutic alternatives, allowing them to return to a more normal life," commented Dr. Fogel, co-founder and CSO of Synchroneuron.  "The extensive development experience of the Accellient management team and an exceptional drug profile positions Synchroneuron for success," added Dr. Isaac Cheng of Morningside, a member of the Synchroneuron Board of Directors.

"We are very pleased to attract such a high-quality investor in our first round of financing," said Dr. Kerns, interim CEO of Synchroneuron.  "Morningside's extensive global network and its experience and past successes with development stage life science companies will bring far more than financing alone to our company.”

About Synchroneuron- Synchroneuron is a privately held life science company based in the Boston area.  The company is engaged in developing a novel treatment for movement disorders, utilizing a drug with simultaneous effects on excitatory and inhibitory neurotransmission.

About Accellient Partners- Accellient is a privately held drug-development organization with broad and deep expertise in early stage development from chemistry through Phase 2.  Accellient manages development for emerging companies and Accellient is actively engaged in partnering and fund raising support with selected startups.  More information is available at www.accellient.com.

About Morningside- Morningside is a diversified investment group founded in 1986 by the Chan family of Hong Kong. It is engaged primarily in private equity and venture capital investments. The group has investments in North America, Europe, across Asia-Pacific, and since 1992, in Mainland China. Morningside is an active investor in early-stage life science companies formed around new technologies which represent a high degree of novelty over existing technologies. More information is available at www.morningside.com.

BioFlash

Membership Deliverables

MassBio Membership gives you:

Purchasing power-MassBio negotiates a broad-based collection of services on behalf of member companies and passes the savings on to its members. 

Networking and professional development-MassBio organizes and executes numerous conferences, committee meetings, and networking events throughout the year.

MassBio Signature Events-Attend our Investors Forum, Innovator Roundtables, Pharma Days, our Golf Classic Fundraiser, Policy Leadership Breakfast, and many others.

Public policy & Advocacy-As the state's leading advocate for our life science super cluster, we fight for public policy initiatives and tax incentives in Massachusetts and Washington, D.C., that will enable biotechnology companies to do their best work.

Economic development-MassBio provides expert advice and guidance to help companies find suitable locations and resources as they move to and grow in the Bay State. We make Massachusetts a better place for your business.

Visibility/Resources-Members are listed on a searchable directory that includes a profile and link to the company's website. We highlight your company's latest news by posting to our MassBio member news page. In addition, members can post job openings on our website free!

Educational incentives-We promote education, workforce development and lifelong learning through the MassBioEd Foundation. The foundation customizes training programs for companies and educational institutions and promotes science in the classroom through BioTeach. MassBio members receive a discount on courses offered by the foundation.