A consortium of European and US-based investors and clinical-stage company Nobias Therapeutics, which is majority-backed by Medical Excellence Capital, announced on Thursday the launch of Synaptiq Therapeutics, a privately held, clinical-stage biotechnology company focused on advancing SYN-001 for the treatment of neuropsychiatric symptoms associated with 22q11DS.

With the acquisition of Nobias Therapeutics' lead asset, NB-001 (now SYN-001), Synaptiq brings together experienced investors, proven clinical development capabilities and operational expertise to advance SYN-001 through late-stage clinical development and toward potential regulatory approval. Patrick Dougherty has been appointed chief executive officer.

Founding investors include Investcorp-backed Sanos Group, a specialised clinical research organisation (CRO) headquartered in Denmark, an Icelandic investment fund by AxUM Securities, and Arctic Therapeutics, a clinical-stage biotechnology company with operations in Iceland and the United States. Nobias Therapeutics will retain an equity interest in Synaptiq Therapeutics alongside the founding investors.

Financial terms of the transaction were not disclosed.

Headquartered in Iceland, Synaptiq Therapeutics intends to leverage Arctic Therapeutics' established drug development platform, clinical operations team, scientific expertise and research relationship with the US-based Center for Applied Genomics at the Children's Hospital of Philadelphia. Sanos Group will contribute its clinical development and contract research capabilities as the company prepares to initiate a Phase IIb clinical trial at leading medical centres across North America and Europe.

SYN-001 is a novel small molecule modulator of metabotropic glutamate receptors (mGluRs). It has the potential to become the first therapy specifically developed for the treatment of neuropsychiatric symptoms associated with 22q11DS.