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Synlogic Inc. (creating therapeutics based on its synthetic biology and microbiome platforms) raised $40mm in its Series B financing led by OrbiMed HealthCare Fund Management, which adds a board member and was joined by other new backer Deerfield Management and returning shareholders Atlas Venture and New Enterprise Associates. Proceeds will help support development of its urea cycle disorder and phenylketonuria programs, which are expected to enter the clinic in 2017. The financing comes just one week after Synlogic teamed up with AbbVie, the biotech's first corporate partner.
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