Langer lab spinout Lyndra raises $60.5M in bid to replace existing HIV, schizophrenia, opioid abuse treatments

Two months after unveiling Phase II data for their long-acting schizophrenia pill, Lyndra Therapeutics has raised a $60.5 million Series C to push it through a pivotal trial.

The new round, led by the VC arm of insurance giant AIG, brings Lyndra’s total funding to over $160 million as they look to reformulate existing daily pills into weekly pills. It will be immediately used to fund a Phase III study for LYN-005, a weekly form of the decades-old antipsychotic risperidone.