Synairgen

finnCap announces an £80m fundraise and £7m Open Offer for Synairgen Research Ltd, supporting Ph III trials and scale up of its inhaled interferon beta, SNG001, for the treatment of #COVID19. On completion, finnCap will have raised £94m for Synairgen since April.

Richard Marsden, CEO, Synairgen: “It was particularly pleasing to see the level of support received for this financing, reinforcing confidence in Synairgen and SNG001, our wholly-owned drug, and potential breakthrough treatment for COVID-19 patients. finnCap has always been supportive and built a good register of institutions in March which was broadened further in this funding. It was a very successful fundraise and the level of demand was such that we were comfortably able to increase the size of the funding. Having demonstrated the great promise of SNG001 in hospitalised COVID-19 patients earlier this year, we now have the financial resources to be able to rapidly progress this potential treatment in such a critical area of unmet need.”

Geoff Nash, Corporate Finance Director: “We are extremely proud of Synairgen’s achievements. As strong believers in SNG001 we’re delighted to have generated so much support for this great management team and to build the register to progress this British biotech success story.”