Cyclica closes C$23 million Series B financing
On June 24, 2020, Cyclica Inc. ("Cyclica") announced the close of a C$23 million Series B round of financing. The round was led by Drive Capital with participation from Chiesi Farmaceutici, GreenSky Capital, and members of Cyclica's management team.
Funding from the round will support continued innovation around Cyclica's integrated proteome-wide drug discovery platform, and will expand its application within the pharma industry. It will also support expansion into adjacent sectors, such as agro-chemicals.
The financing will accelerate Cyclica's commercial strategy to create and own hundreds of drug discovery programs across multiple therapeutic areas. These programs are created via spin-outs and joint ventures with top tier research institutions, facilitated largely through the Cyclica Academic Partnership Program ("CAPP").
Cyclica is the first company to approach polypharmacology with a structure-based, AI-augmented in silico discovery platform, centred on Ligand Design and Ligand Express. Powered by MatchMaker™, a proprietary deep learning proteome screening technology, and POEM™, an innovative supervised learning technology for predicting molecular properties, Cyclica's platform is suited uniquely to the design of novel, drug-like chemical matter by simultaneously prioritizing compounds based on their on- and off-target polypharmacological profiles as well as their developmental properties.
Further information can be found on Business Wire's website.