Synthetic Biologics is a synthetic biology company developing therapeutics for the human microbiome that is headquartered in Rockville, Maryland and was founded in 2001 by Khalid Islam.
SYN-004 (Ribaxamase) is an enzyme made to be co-administered with IV beta-lactam antibiotics for treating microbiome infections while protecting the gut, preventing Clostridioides difficile infection (CDI), preventing pathogenic overgrowth, and preventing the development of antimicrobial resistance (AMR).
SYN-010 is a formula for the modified-release of lovastatin lactone made to treat the underlying causes of symptoms associated with irritable bowel syndrome with constipation (IBS-C) by bypassing the stomach and reducing methane production.
Private placement financing
On November 1, 2012 Synthetic Biologics completed a private placement financing round selling approximately 6.8 million of common stock at a purchase price of $1.60 per share for a total of about $10.8 million. Jeffery Riley, CEO of Synthetic Biologics, made the following public statement regarding the companies financing:
This new capital provides us with a strong cash position going forward. It allows us to advance our lead programs to develop monoclonal antibody therapies for certain infectious diseases and a synthetic DNA-based therapy for pulmonary arterial hypertension through our Exclusive Channel Collaborations with Intrexon Corporation. We believe that we are well-positioned to achieve significant milestones related to these cutting edge development programs.