Symic Bio, a US-based biopharmaceutical company backed by pharmaceutical company Eli Lilly and diversified conglomerate Mitsui, has raised $11m in additional financing.
The round was led by Cell Innovation Partners, a healthcare-focused investment fund formed by cell technology researcher Reprocell and financial services firm Shinsei Bank, and it included unnamed existing investors.
Founded in 2012, Symic Bio is developing therapeutics that target the extracellular matrix, the non-cellular component of the body’s tissues.
The company received $30m in an early 2017 series B round featuring Lilly Ventures and Mitsui Global Investment, respective subsidiaries of Eli Lilly and Mitsui, as well as Den Danske Forskningsfond, Ally Bridge Group, InCube Ventures, Purdue Foundry Investment Fund, Mission Bay Capital, QB3 Partners and Heda Ventures.
All the participants in the series B round apart from Heda had also contributed to Symic’s $40m series A round in 2015. Symic had raised just over $2.2m across two seed rounds in 2013 and 2014.