NEW YORK, Jan 8 – Structural genomics company Syrrx expects to close a $54 million Series C round of venture funding Tuesday, the company announced Monday.
This financing effort follows an October 3 announcement that Syrrx had raised $20 million in Series B venture funding. The San Diego-based company has raised $79 million to date
Lombard Odier & Cie led this private placement, which included Bay City Capital, Chemicals and Materials Enterprise Associates (CMEA), CIBC, Cooper Hill, Invesco Global Health Science Fund, Jaspers, Joe Lewis, MPM Asset Management, Versant Ventures, Wanger Asset Management and Alex Zaffaroni.
Syrrx has developed an automated “factory approach” to determine structures of proteins, in collaboration with the Genomics Institute. The company uses this technology to enhance drug discovery efforts.
" This round of financing will enable Syrrx to deepen its commitment to industrializing protein structure determination with breakthrough technologies and add important competencies that will enable us to forward integrate to become a drug discovery company," Syrrx CEO Wendell Wierenga said in a statement.
Syrrx, which has 50 employees, recently began construction of an 84,000-square-foot facility, which it will occupy in January 2002.