Spyryx Biosciences

The company's scientific foundation was built upon the discoveries of its founder, Dr. Robert Tarran, at the University of North Carolina at Chapel Hill. Dr. Tarran identified a previously unknown mechanism for how the lung regulates the liquid on its surface, a process that is dysfunctional in CF patients. This dysfunction leads to airway mucus dehydration, a primary cause of the cycle of mucus accumulation, infection, and progressive lung damage. Spyryx's therapeutic approach was designed to be independent of the specific genetic mutations causing CF, giving it the potential to treat the entire patient population.

The core of Spyryx's business was the development of its lead product candidate, SPX-101. This was an inhaled peptide therapeutic designed to mimic the function of a naturally occurring lung protein, SPLUNC1, which regulates the epithelial sodium channel (ENaC). By causing the internalization of these channels, SPX-101 aimed to reduce sodium and water absorption from the airway surface, thereby restoring airway surface liquid and promoting the clearance of mucus. The business model was centered on advancing SPX-101 through clinical trials to eventually provide a new treatment option for patients with CF and potentially COPD. The company's revenue was projected to come from the commercialization of its therapeutic products upon regulatory approval.

Spyryx successfully raised significant capital to fund its research and development. In 2015, it secured $18 million in a Series A financing round from investors including Canaan Partners, Hatteras Venture Partners, and 5AM Ventures. The company progressed its lead candidate, SPX-101, through a Phase 1 clinical trial in healthy volunteers, which was completed successfully in early 2017, showing the drug was well-tolerated. Following this, Spyryx initiated a multinational Phase 2 clinical trial (HOPE-1) in late 2017 to evaluate the efficacy and safety of SPX-101 in CF patients. Positive data from the first cohort of this trial was shared in mid-2018, indicating improvements in lung function.