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Cyteir Therapeutics Inks Oversubscribed Series C

2021-02-11
LEXINGTON, MA, Cyteir Therapeutics, a leader in the discovery and development of next-generation synthetic lethal therapies for cancer, has raised an oversubscribed $80 million Series C financing.
The company will use the new funds to advance its lead compound, the first-in-class inhibitor of RAD51-mediated DNA repair, CYT-0851, into phase 2 monotherapy trials in hematologic cancers and solid tumors, to initiate trials combining CYT-0851 with other cancer therapies, and to expand preclinical research to identify and advance additional novel cancer therapies.

RA Capital Management led the round with Janus Henderson Investors, Acuta Capital Partners, Ally Bridge Group, Avidity Partners, Ample Plus Fund, and CaaS Capital Management, joined by existing investors Novo Holdings, Venrock, Lightstone Ventures, DROIA Ventures, Osage University Partners (OUP), and another undisclosed U.S.-based, healthcare-focused fund. Cyteir has now raised over $140 million in total to support its novel, synthetic lethal approach to cancer therapy.

Cyteir Therapeutics is a clinical-stage oncology company that is leading the discovery and development of next-generation synthetic lethal therapies to treat cancer. The company is using its expertise in DNA damage response (DDR) biology to create a pipeline of novel, first-in-class drugs that selectively target key cancer vulnerabilities. Cyteir's lead compound, CYT-0851, is currently the most clinically advanced inhibitor of RAD51-mediated DNA repair. For more information, visit www.cyteir.com.
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