Gunderson Dettmer represented client Lyndra Therapeutics, a developer of orally administered steady-state release pills, in its $60.5 million Series C financing led by AIG Investments. The new funding will be used to move its lead program, a once-weekly pill for schizophrenia, into a pivotal trial, which it plans to start later this year.

In the announcement of the transaction, co-founder of Lyndra Amy Schulman said, “This financing is a testament to Lyndra’s quality and speed of progress in taking this innovative platform from lab science to a positive proof of concept result in just six years. Trish has built an exceptional team and the strength of this group of investors validates Lyndra’s achievements and demonstrates their confidence in Lyndra’s potential to transform the way medicine is delivered.”

The Gunderson deal team was led by Tim Ehrlich and Graham Rogers and included Tyler Vandeventer.

Companies:
Lyndra