Cytonus Therapeutics, Inc., a San Diego, CA-based biotechnology company discovering and advancing novel medicines enabled by its proprietary Cargocyte™ Drug Delivery Platform, announced the initial closing of its $11.7m Series A preferred financing.
The raise was led by Partners Investment, with syndicate investors including industry veteran and investor John Ballantyne, PhD, Proxima VC, Gemseki Fund, KreaMedica, WSGR Fund, and Creative Ventures. In conjunction with the financing, the company expanded its Board of Directors with the appointment of Jaeyeol (Jae) An, PhD, the Managing Director of Partners Investment’s Healthcare and Life Sciences Fund. Additionally, Cytonus expanded its Scientific Board of Advisors with the appointment of John C. Bell, PhD, the noted University of Ottawaprofessor and pioneering researcher in the field of oncolytic viruses.
The company will use the funds to continue development of its portfolio pipeline of novel products, delivering well-validated payloads to difficult-to-reach tissues such as metastatic tumors and to the central nervous system (CNS).
Led by Chief Executive Officer Remo Moomiaie-Qajar, MD, Chief Scientific Innovator Richard Klemke, PhD., and Cytonus’ executive chairman, Christopher Thorne, JD-MBA, Cytonus Therapeutics is a biotechnology company focused on discovering and advancing novel medicines enabled by the Cargocyte™ Drug Delivery Platform. The company has developed a vast pipeline of proprietary immunotherapeutic products to improve patient outcomes for a wide range of medical conditions including cancers, infectious diseases, inflammatory diseases, and cognitive disorders. The Cargocyte-based technologies are next-generation synthetic biology delivery drones that have demonstrated measurable advantages for treating numerous medical applications across unmet therapeutic areas. Cargocytes™ are engineered to safely transport a multiplicity of therapeutic payloads into difficult-to-reach targeted tissues, and can be programmed to deliver selective, potent, and controllable “off-the-shelf” well-validated therapies. These distinctive features demonstrate the potential for Cargocytes to usher in a new era of precision medicine.
FinSMEs
04/12/2023