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GSK invests in British startup Sitryx

GlaxoSmithKline PLC and a syndicate of investors co-led by SV Health Investors LLC and Sofinnova Partners invested $30 million in Sitryx.

The British pharmaceutical company was raising cash via the first round of institutional funding, the so-called series A, to advance therapies to treat severe diseases including cancer and autoimmune conditions.

Sitryx was co-founded by a team of scientists from Europe and the U.S. with seed funding from SV Health investors. Its area of focus is immunometabolism therapies that have the potential of altering metabolic pathways in the body to fight disease.

GSK Senior Vice President of Research John Lepore said the investment in Sitryx will allow the British drugmaker to build on its existing collaboration with the company.

GSK has supported the development of Sitryx's portfolio through access to its technologies and the licensing of intellectual property, including chemical matter.