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French Firm Synt:em Gains New Financing From Venture Backers

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NÎMES--Synt:em here, a drug discovery company that specializes in research tools and services for peptide synthesis and contract research for the design and synthesis of new therapeutic molecules, has completed a new round of financing that brought in approximately $3.4 million. The firm is now supported by two venture companies, Apax Partners and Banexi Ventures, and is capitalized with more than $4.25 million.

In addition, Synt:em has received an innovation grant of more than $1 million from the French government. According to the company, the new funds will be used to develop its Pep:Trans technology that allows therapeutic molecules to be delivered to intracellular targets more efficiently. Pep:Trans utilizes Synt:em's In Silico Screening technology platform, based on chemical synthesis and molecular modeling.

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