Lycia Therapeutics closes $106.6 million Series C financing

14 May 2024

US biotech Lycia Therapeutics yesterday revealed it has completed an oversubscribed $106.6 million Series C financing.

Venrock Healthcare Capital Partners led the round, with participation from new investors Janus Henderson Investors, Marshall Wace and Franklin Templeton, and existing investors Redmile Group, RTW Investments, Blue Owl Healthcare Opportunities (formerly Cowen Healthcare Investments), Invus, Eli Lilly and Company and Alexandria Venture Investments.

Lycia’s next-generation degradation approach leveraging lysosomal targeting chimeras, or LYTACs, is designed to target the untapped extracellular proteome, including transmembrane and secreted proteins. Lycia has made notable progress advancing its pipeline of LYTACs and will use the proceeds from the Series C financing to advance its lead programs into the clinic for autoimmune and inflammatory diseases.

This article is accessible to registered users, to continue reading please register for free. A free trial will give you access to exclusive features, interviews, round-ups and commentary from the sharpest minds in the pharmaceutical and biotechnology space for a week. If you are already a registered user please login. If your trial has come to an end, you can subscribe here.

Try before you buy

Free

7 day trial access

Take a Free Trial

All the news that moves the needle in pharma and biotech
Exclusive features, podcasts, interviews, data analyses and commentary from our global network of life sciences reporters.
Receive The Pharma Letter daily news bulletin, free forever.

Become a subscriber

£820

Or £77 per month

Subscribe Now

Unfettered access to industry-leading news, commentary and analysis in pharma and biotech.
Updates from clinical trials, conferences, M&A, licensing, financing, regulation, patents & legal, executive appointments, commercial strategy and financial results.
Daily roundup of key events in pharma and biotech.
Monthly in-depth briefings on Boardroom appointments and M&A news.
Choose from a cost-effective annual package or a flexible monthly subscription

The Pharma Letter is an extremely useful and valuable Life Sciences service that brings together a daily update on performance people and products. It’s part of the key information for keeping me informed

Chairman, Sanofi Aventis UK