TORONTO, May 21, 2026 /CNW/ - Synakis Corp., a Toronto-based biotechnology company developing ocular therapies for retinal disease and glaucoma, announced today the close of an oversubscribed CAD $2.6 million pre-seed financing round to advance SNK-125, its vitreous replacement therapy for retinal detachment.

Proceeds will support completion of GLP toxicology studies by early 2027 for an Investigational Testing Authorization (ITA) filing with Health Canada, and lead optimization for ocular therapeutic delivery.

The financing round was co-led by Toronto Innovation Acceleration Partners (TIAP) and Chiefswood Private Capital Inc., with additional investment from the Ontario Centre of Innovation (OCI) through the Life Sciences Innovation Fund (LSIF), and from the Canadian Glycomics Network (GlycoNet) through the Kickstart Program.

Prakash Gowd, Interim President and CEO of TIAP, said, "TIAP's investment reflects our mission of transforming Canadian health science innovation into successful commercial ventures and supporting high-potential startups."

Jake Krembil, Vice-President of Chiefswood, added, "After following Synakis for years, we remain impressed by the rigor of its science and platform."

Synakis' proprietary hydrogel platform was designed for safe ocular delivery and enables vitreous replacement and sustained therapeutic delivery. SNK-125 is intended to eliminate blurry vision and face-down posturing associated with existing gas and oil treatments for retinal detachment. Independent validation reinforces the potential of Synakis' hydrogel in retinal therapeutics.

Molly Shoichet, Synakis' CSO and Co-Founder, said, "The company is excited to advance technologies aimed at preserving vision."

Dr. Rob Devenyi, vitreoretinal surgeon and Synakis' CMO and Co-Founder, noted "the need for improved patient solutions given the limitations of current retinal detachment treatments."

Thierry Nivaggioli, Synakis' CEO, said, "This financing, together with independent validation, reinforces both the strength of our science and the unmet need for improved retinal therapies."

About Synakis

Synakis is a Toronto-based pre-clinical biotechnology company developing ocular products to preserve vision through its proprietary platform technology. The company is developing products for retinal diseases, retinal detachment, and glaucoma. Synakis was spun out of the laboratory of Professor Molly Shoichet at the University of Toronto. For more information, visit www.synakis.ca.

About TIAP

TIAP supports commercialization of therapeutic, medical device, and digital health/AI innovations from Toronto research institutions and has helped launch more than 70 companies that have raised over $1 billion in private investment.

About Chiefswood

Chiefswood Private Capital is a Canadian family office investment firm dedicated to supporting Canadian startups with patient, long-term capital.

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SOURCE Synakis