Proceeds from significantly oversubscribed placing will progress proprietary COVID-19 treatment.
London, 16 October 2020, Consilium Strategic Communications, a global leader in strategic healthcare communications and investor relations, is pleased to have advised on Synairgen’s successful fundraising of £84.6 million (net).
Synairgen is a respiratory drug discovery and development company whose proprietary drug, SNG001, a nebulised formulation of Interferon Beta, produced positive results in a trial of hospitalised COVID-19 patients in July 2020. Synairgen is now focused on progressing SNG001 as a treatment for COVID-19 in an international, randomised, placebo-controlled Phase III trial in 900 hospitalised COVID-19 patients, scheduled to start in Q4 2020. Concomitant with the fundraising, Synairgen also announced an agreement with Akron Biotechnology to scale up production of SNG001, an agreement with Catalent Biologics to support fill/finish of the drug and has selected Aerogen to provide the aerosol delivery system for the product. The Phase III study will be run by Parexel Biotech and has been badged a National Priority study in UK.
The team advising Synairgen at Consilium is Mary-Jane Elliott, Sue Stuart, Olivia Manser, Carina Jurs, Kris Lam and Alexander Bridge. Numis Securities Limited and finnCap Ltd acted as joint bookrunners for the fundraising.
“Consilium has been a key advisor to the management team and Board recently and the team has worked around the clock with true professionalism to support us. They have played a major role in getting the materials over the line for this fundraising and continue to be a strong sounding board and guide to us at this very important time for Synairgen.”
Richard Marsden
Chief Executive Officer of Synairgen
“We have worked with Synairgen since 2014 and are proud to see their achievements whilst they rapidly progress with the development and scale up of this potential treatment for COVID-19 patients. We are delighted to support the profile of yet another impressive healthcare company which could be close to contributing globally to the crisis which is impacting the lives of every one of us.”
Mary-Jane Elliott
Managing Partner of Consilium Strategic Communications
