Syndexa Pharmaceuticals Adds to B1 Round

Watertown, Mass.-based Syndexa Pharmaceuticals Corp. has raised an undisclosed amount of Series B1 financing from MP Healthcare Venture Management. Total capital raised in the B1 round was $8.5 million. Syndexa is developing drugs to treat metabolic diseases.

PRESS RELEASE
Syndexa Pharmaceuticals Corp., a biopharmaceutical company developing first-in-class drugs to treat metabolic diseases, announced today that it has secured additional Series B1 financing from MP Healthcare Venture Management (MPH), a jointly owned subsidiary of Mitsubishi Tanabe Pharma Corporation (MTPC) and Mitsubishi Chemical Holdings Corporation (MCHC). Total capital raised in the Series B1 round, which was originally led by existing investor Dr. Yalcin Ayasli in April 2011, now stands at $8.5 million. In conjunction with the Series B1 transaction, Tetsuro Iwata will represent MPH as an Observer on Syndexa’s Board of Directors.

“The proceeds from our Series B1 will enable us to progress the preclinical development of our Endoplasmic Reticulum (ER) modulating compounds towards development candidate selection, and will allow us to validate the therapeutic potential of our most promising compounds in various indications of ER dysfunction.”

“This funding from new investor, MP Healthcare Venture Management, and support from Tetsuro Iwata comes at an important time for Syndexa,” said Teo Uysal, President and CEO. “The proceeds from our Series B1 will enable us to progress the preclinical development of our Endoplasmic Reticulum (ER) modulating compounds towards development candidate selection, and will allow us to validate the therapeutic potential of our most promising compounds in various indications of ER dysfunction.”

About MP Healthcare Venture Management

MP Healthcare Venture Management, Inc. (MPH) is a lifesciences venture capital firm, investing in innovative companies developing novel therapeutics, platform technologies, vaccines and diagnostics. MPH invests in seed to late stage private companies, and investment is not limited by geographic region. MPH is a jointly owned subsidiary of Mitsubishi Tanabe Pharma Corporation (MTPC) and Mitsubishi Chemical Holdings Corporation (MCHC). For more information, visit www.mp-healthcare.com.

About Syndexa Pharmaceuticals

Syndexa is dedicated to the discovery and development of a new generation of small-molecule drugs targeting novel mechanisms for the treatment and prevention of diseases of endoplasmic reticulum (ER) dysfunction which include inflammatory and metabolic diseases and disorders, cardiovascular diseases and neurodegenerative diseases. Founded by leading scientists from Harvard University, the company has raised $24.8M of equity capital to date and is executing on its business strategy to rapidly build and commercialize a portfolio of breakthrough products. The company is headquartered in Watertown, MA.