Lycia Therapeutics raised $106M in a Series C financing led by Venrock Healthcare Capital Partners for the development of lysosomal targeting chimeras (lytacs) to treat autoimmune and inflammatory diseases.

May 13, 2024•over 1 year ago

Amount Raised

$106 Million

Round Type

series c

San FranciscoBiotechnology

Investors

Franklin TempletonMarshall WaceJanus Henderson InvestorsVenrock Healthcare Capital Partners

Description

Lycia Therapeutics, a startup based in South San Francisco, raised $106 million in a Series C financing led by Venrock Healthcare Capital Partners. The funding will advance the research and development of lysosomal targeting chimeras (lytacs) aimed at treating autoimmune and inflammatory diseases.

Company Information

Company

Lycia Therapeutics, Inc.

Location

681 Gateway Blvd. 3rd Floor

San Francisco, California, United States

About

Lycia is a Series B biotech company building upon the novel platform developed by academic founder Professor Carolyn Bertozzi at Stanford University to develop LYTAC (lysosomal targeting chimera) protein degraders that harness the cell’s lysosomal trafficking and degradation pathway to target both soluble and membrane-bound extracellular proteins. Applications of the LYTAC platform include: targeting challenging membrane proteins, clearing pathogenic immune complexes in circulation and depleting antibodies to specific antigens of interest. The platform can potentially deliver next-generation therapeutics to address a range of difficult-to-treat diseases, including cancer and autoimmune diseases.

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