– Dosed First Patient in Phase 1 Clinical Trial of SY-1365 in Patients with Advanced Solid Tumors –
– Expanded Phase 2 Clinical Trial of SY-1425 to Include Combination Dosing Arm; On Track to Report Initial Clinical Data in Fall 2017 –
– Closed Private Placement for $35 Million in Gross Proceeds –
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Syros Pharmaceuticals (NASDAQ: SYRS), a biopharmaceutical company pioneering the discovery and development of medicines to control the expression of disease-driving genes, today reported financial results for the first quarter ended March 31, 2017 and provided an update on recent accomplishments and upcoming events.
“Syros is building a strong track record for successful execution as we deliver on the ambitious goals set forth during our IPO in June of last year,” said Nancy Simonian, M.D., Chief Executive Officer of Syros. “Our recent accomplishments strongly position Syros with two clinical-stage product candidates, a rich preclinical pipeline, and a leading gene control platform capable of meeting our goal of generating, on average, one IND every other year. Our strong balance sheet, fortified by the recent private financing from a select group of top-tier investors, gives us the financial strength to fund our planned operations through key value inflection points, including expected clinical data readouts for our two lead product candidates with the first of those being initial clinical data from our Phase 2 proof-of-concept study for SY-1425, our first-in-class selective RARa agonist, in the fall of this year.”
Upcoming Milestones
Syros expects to report initial clinical data from its ongoing Phase 2 clinical trial of SY-1425, an oral first-in-class selective retinoic acid receptor alpha (RARa) agonist, in the fall of 2017. The Phase 2 study is exploring the safety and efficacy of SY-1425 as a monotherapy in four acute myeloid leukemia (AML) and myelodysplastic syndrome (MDS) patient populations. The study also includes a combination dosing arm, which is evaluating the efficacy of SY-1425 when combined with azacitidine, a standard-of-care therapy, in newly diagnosed AML patients 60 years or older who are not suitable candidates for standard chemotherapy. All patients in the trial are prospectively selected using biomarkers for super-enhancers linked to RARA-pathway associated genes, RARA and IRF8.
