Biotech raises $1.4 million to accelerate drug delivery technology
An Indian-Irish biotech has raised $1.4 million in funding to help it accelerate its cancer and rare genetic disease therapy.
CyGenica raised the money in a seed fund investment round led by global venture capital investor SOSV. CyGenica will use the funding to accelerate the validation of its technology which is designed to enable safe, targeted and affordable intercellular drug delivery.
CyGenica’s technology aims to address the problem of delivering large-molecule therapeutics into living cells without damaging them or triggering an adverse immune response.
CyGenica is now seeking a key partner of biopharmaceutical companies in the advancement of cutting-edge therapeutics for cancer and rare diseases to improve patient’s health and quality of life.
Dr Nusrat Sanghamitra, Co-founder and CEO of CyGenica said: “The challenge of delivering drugs for cancer and genetic therapies, be it genes/RNAs/CRISPRs across cell membranes without damaging the cells and triggering an adverse immune response remains a complex hurdle in the pharmaceutical industry. Our groundbreaking technology functions like a universal USB drive. It acts as a nanomachine which can deliver multitudes of cargoes carrying molecular information such as drugs and genetic therapeutics in an efficient, targeted manner without any toxicity and minimum immunogenicity. This will revolutionize drug delivery and lead to better patient outcomes.”
“This current financing round has brought a diversified international network on board. This will help de-risk our technology, expand our leadership team and take us significantly closer to our goal of enabling safe and targeted intracellular delivery of genetic therapies for cancer and rare diseases,” Dr Sanghamitra continued.
Bill Liao, Partner SOSV explained: “I am delighted to be leading this investment because CyGenica has solved one of the most pressing problems in biotech: delivery. We are incredibly excited to be part of this revolution.”