Precision medicine company Synnovation Therapeutics has launched with $102m of Series A financing to progress the development of its clinical and preclinical pipeline of targeted therapies.

Third Rock Ventures led the investment round, which saw contributions from Lilly Asia Ventures, Nextech, Sirona Capital and Cormorant Asset Management.

The funding will primarily support the development of the company’s lead programmes, SNV1521 and SNV4818.

Synnovation Therapeutics is focused on developing small molecule therapies with robust pharmacology against well-validated disease targets.

Its pipeline is based on precision oncologic targets where increased potency, selectivity and optimised pharmacological characteristics are likely to fill gaps in current standards of care and significantly enhance patient outcomes.

The lead programme of the company, SNV1521, is a poly (ADP-ribose) polymerase 1 (PARP1) inhibitor that has shown potential as a best-in-class therapy due to its potency, high selectivity and ability to penetrate the central nervous system.

Synnovation is preparing to commence a Phase I clinical trial for SNV1521 and expects to begin dosing subjects in early 2024.

It is also developing a second programme, SNV4818, targeting the oncogenic PI3K-alpha pathway, known for its role in cancer progression.

SNV4818 can hinder the H1047X mutant and moderate selectivity for E545/542X mutants.

Synnovation Therapeutics CEO Wenqing Yao stated: “At Synnovation, we have assembled a top-notch team dedicated to fostering a multidisciplinary and collaborative approach as advocated by my mentor Dr Ralph Hirschman, who ardently believed that the collaboration between creative chemists and outstanding biologists could lead to remarkable discoveries.

“Our goal is to develop best-in-class therapies, ultimately aiming to enhance the lives of patients. We look forward to advancing in the clinic with SNV1521, a novel PARP1 selective inhibitor, as we continue to grow our potential best-in-class pipeline of agents.”