WILSON, Wyoming, Sept. 22, 2021 (GLOBE NEWSWIRE) -- SynAgile Corporation (www.SynAgile.com), a privately held pharmaceutical company that develops and commercializes drug delivery systems using its proprietary OraFuse® technology platform, today announced the closing of a convertible debt investment of >$9 million. The proceeds will be used to complete the Phase 2 clinical trial of the DopaFuse® delivery system and initiate manufacturing scale up in preparation for its Phase III trial. The Phase II trial is currently underway in Luxembourg, Italy and Spain. The DopaFuse delivery system is the first non-invasive, continuous, levodopa-carbidopa delivery system. DopaFuse has the potential to treat motor fluctuations and dyskinesia associated with Parkinson's disease.
In conjunction with the financing, Mr. Michael McNamara has joined SynAgile’s Board of Directors. Mr. McNamara spent 12 years as Chief Executive Officer of Flex, one of the world’s largest multinational technology manufacturing companies, where he grew the company to $25B in revenue and over 200,000 employees operating in 30+ countries. Mr. McNamara serves on the Board of Directors of Carrier, Workday and PCH International, and was previously on boards of many other companies including Slack Technologies, Delphi, SunEdison, and Therasense. He is also a venture partner at Eclipse Ventures.
SynAgile also announces the appointment of Dr. C. Warren Olanow as SynAgile’s Chief Medical Officer. Dr. Olanow has served as an advisor to SynAgile since 2011. He is the former Chairman of the Department of Neurology at the Mount Sinai School of Medicine in New York City. Dr. Olanow is a Co-Founder and Chief Executive Officer of Clintrex, a clinical research company. Dr. Olanow’s research has focused on the cause and treatment of PD and other neurodegenerative diseases. He has led multiple pivotal clinical trials leading to the approval of numerous drugs and is the recipient of the 2013 movement disorder research award from the American Academy of Neurology and the lifetime achievement award from the International Parkinson and Movement Disorder Society.
About SynAgile
SynAgile is a pharmaceutical company focused on developing and commercializing therapeutics using its proprietary OraFuse® noninvasive, continuous, oral dosing technology, with an initial focus on treating debilitating motor complications in patients with Parkinson's disease using its DopaFuse® levodopa-carbidopa delivery system.
SOURCE SynAgile Corporation
