Led by Drive Capital, the investment round includes Chiesi Farmaceutici, GreenSky Capital, and members of management.
Proceeds will advance Cyclica’s AI-augmented, polypharmacology-enabled, drug discovery platforms, Ligand Design and Ligand Express, and accelerate commercial plans to advance a growing pipeline of pre-clinical and clinical assets through an innovative decentralized partnership model.
TORONTO - Cyclica, a neo biotech company, announced today the close of a CAD$23M 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.
Cyclica is decentralizing the discovery of better medicines by combining its deep roots in Artificial Intelligence (AI) and protein biophysics with an innovative business model. To drive sustainable progress in reducing attrition rates and timelines to the clinic, Cyclica believes that an avant-garde and holistic approach to drug discovery, both scientifically and commercially, is required.
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”).
Propelled by a rapidly growing portfolio of more than 30 active and advancing drug discovery programs, Cyclica will continue to spark innovation through a combination of venture creation and partnerships with early-stage and emerging biotech companies. Recent partnerships include EntheogeniX Biosciences, NineteenGale Therapeutics, Rosetta Therapeutics, the Rare Diseases Medicine Accelerator, a joint venture with Mannin Research, and two stealth JVs encompassing over 50 programs across multiple therapeutic areas.
“Cyclica’s computational platform shaved many months off of our timeline, and allowed us to achieve our objective of generating completely novel, synthetically tractable lead-like compounds. The flexibility, speed, and passion of the Cyclica team around drug design is readily apparent, and this enthusiasm has been a key driver of our rapid development.”
— Srinivas Rao, MD, PhD, CEO of EntheogeniX Biosciences and CSO of ATAI Life Sciences
“What attracted us to Cyclica was their creative and unique business model. They’ve created a diversified portfolio of assets across therapeutic indications through a partnership model. At the same time, they continue to collaborate with multinational companies. These companies represent strategic partnership options for the Cyclica portfolio. Cyclica is enabling world-class biotech companies while increasing their probability of success.”
— Molly Bonakdarpour, Partner at Drive Capital
“At the very core of Cyclica’s ethos is the steadfast desire to help patients by advancing the discovery and development of better medicines by taking a holistic yet personalized approach. We are driving this ambitious vision forward by partnering with hyper innovative biotech companies that are rooted in sound science, and we are enabling them with our platform, our team of applied scientists, and our network of external partners. By creating new companies through spin-outs and joint ventures and helping them scale, we are in effect creating the biotech pipeline of the future.”
— Naheed Kurji, Co-Founder, President and CEO of Cyclica
Media Inquiries:
Davesh Chauhan
Marketing & External Affairs Strategist
Cyclica Inc.
davesh.chauhan@cyclicarx.com
