Canadian biotechnology startup Synakis has secured fresh funding to advance its work on new treatments for retinal disease and glaucoma. The company announced that it closed an oversubscribed CAD $2.6 million pre-seed funding round, marking an important step in the development of its ocular therapy platform.
The funding will help Synakis continue research and prepare its lead therapy candidate for future regulatory studies. The company is developing biomaterial-based technologies designed to improve treatment options for patients with serious eye conditions.
Funding Round Backed by Canadian Investors
The pre-seed round was co-led by Toronto Innovation Acceleration Partners and Chiefswood Private Capital Inc.. Additional support came from the Ontario Centre of Innovation through its Life Sciences Innovation Fund and from the Canadian Glycomics Network through the Kickstart Program.
According to the company, the newly raised capital will support the advancement of SNK-125, Synakis’ lead vitreous replacement therapy for retinal detachment treatment. The company plans to complete Good Laboratory Practice toxicology studies by early 2027 and prepare for an Investigational Testing Authorization filing with Health Canada.
Focus on Retinal Disease and Glaucoma
Synakis focuses on developing hydrogel-based therapies for eye diseases. Its technology platform is designed to work inside the eye while supporting retinal repair and treatment delivery.
The company stated that SNK-125 is intended to address challenges linked to current retinal detachment treatments. Existing procedures often rely on gas or silicone oil inside the eye after surgery, which can require difficult recovery positioning for patients.
Synakis said its therapy aims to provide a vitreous replacement solution that could improve patient recovery and treatment experience. However, the therapy remains in the pre-clinical stage and has not yet entered human trials.
Company Origin and Leadership
Synakis was spun out from research conducted at the University of Toronto. The company is led by CEO Thierry Nivaggioli, while renowned biomedical researcher Molly Shoichet serves as Chief Scientific Officer and co-founder.
In the company announcement, Synakis’s leadership said the financing will help accelerate the development of its ocular therapy technologies and support upcoming regulatory milestones.
The funding comes as biotechnology companies continue investing in treatments targeting retinal disorders and vision-related diseases. With this latest capital raise, Synakis plans to continue advancing its hydrogel-based therapy platform toward the next phase of development.
