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Syneron Bio said it raised a Series B round worth $150 million, which it will use to back the development of a drug class that’s attracted growing interest because of its potential to borrow some of the best characteristics of biologics and small molecules.
The company said the money will largely go toward development of its “proprietary macrocyclic peptide discovery platform,” and on its website the Beijing-based biotech touts its use of AI to find novel drugs going after new targets.
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