Lycia Therapeutics closes $106.6 million Series C financing
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.
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