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Cyclica Completes $2.4M Series A1 Round

Published by Christine Sarkisian | 2016-09-26 10:00:26

Found in: EntrepreneurshipFundingInnovationLife Sciences 

On 22 Sept. 2016, Cyclica Inc. announced that it has raised a Series A1 round of financing of CAD$2.4M.  Cyclica is a Toronto-based biotechnology company that does in silico drug discovery with its novel predictive analytics platform to develop better and safer drugs.

The syndicated round was led by Toronto-based GreenSky Capital Inc. through the GreenSky Accelerator Fund I, LP, with additional investment from both existing and new investors. The funds will enable the company to scale up operations, drive sales and marketing efforts, and expand innovation through continued product development.

Naheed Kurji, President and CEO of Cyclica added that: “After developing, testing, and validating our core technology, we have now entered the market with a platform that is uniquely fit to scale in the pharmaceutical, nutraceutical and cosmeceutical industries. We have received encouraging feedback from our early clients in all three of these verticals, and this funding will allow us to take an even more active approach to communicating the value of, and commercializing, our technology.”

Cyclica participated in the CTA@Boston with the Winter 2016 cohort.  CTA@Boston, based at the Consulate General of Canada in Boston, continues to connect Boston area companies that will benefit from Cyclica’s technology with the Cyclica team.

Let us know if you’d like a personalized introduction to Cyclica from one of our Trade Commissioners by filling out the form here.

About Cyclica:
Cyclica’s Ligand Express™ platform has been used and validated through third-party organizations to develop safer and more efficacious therapeutics. Whether hypothetical, pre-clinical, clinical, or FDA-approved, Cyclica offers insight and analysis into a small molecule’s effect, in order to augment drug discovery pipelines and efficiently take assets from bench-to-bedside. Ligand Express™ is unique in that it is a drug-centric platform. It currently features PROBEx (proteome-docking), SWITCHx (ligand effect prediction) & DIVEx (systems biology & drug-protein interactomes), and evaluates and compares small molecules to predict how each will interact with the human body (i.e human proteome). As such, Ligand Express™ provides value in finding novel desirable or undesirable targets, which provides clients with polypharmacological profiles that may identify unknown targets, prioritize lead candidates, elucidate adverse effects and point to repurposing opportunities. In addition, Cyclica’s proprietary database of structurally-characterized bacterial and viral proteomes can be used to identify new treatments for infectious diseases.

About GreenSky:
GreenSky is an award winning corporate finance advisory firm based in Toronto, delivering customized financial solutions to small and medium sized technology firms. GreenSky mandates are long-term partnerships with high growth potential companies and dedicated entrepreneurs. GreenSky principals bring together a unique combination of experience in technology, law and finance. GreenSky has the ability to bring extensive capital markets experience into a real-world context. GreenSky Capital makes investments in early-stage Medtech, Cleantech and IT companies through its affiliated venture capital fund, GreenSky Accelerator Fund I, LP.

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