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Lycia Therapeutics raises USD 107 million in Series C funding for clinical development of lead therapeutic candidates
Precision Medicine
May 13, 2024
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Precision Medicine

Precision Medicine

May 13, 2024

Lycia Therapeutics raises USD 107 million in Series C funding for clinical development of lead therapeutic candidates

Funding

  • Lycia Therapeutics has raised ~USD 107 million in a Series C funding round led by Venrock Healthcare Capital Partners. with participation from new investors including Janus Henderson Investors, Marshall Wace, Franklin Templeton, as well as existing investors such as Redmile Group, RTW Investments, and Eli Lilly and Company.

  • The company expects to use the funds to advance its lead therapeutic candidates, which focus on autoimmune and inflammatory diseases, into the clinical stage. 

  • Lycia Therapeutics is a biotechnology firm specializing in developing novel therapeutics through its proprietary Lysosomal Targeting Chimera (LYTAC) platform. This platform is designed to degrade extracellular and membrane-bound proteins often implicated in autoimmune disorders and cancers. The company's approach targets undruggable proteins, focusing on autoimmune and inflammatory diseases​.

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