Cybrexa has secured $25m to progress a cancer treatment based on research at Yale University and University of Rhode Island.
Cybrexa Therapeutics, a US-based oncology therapy developer exploiting Yale University and University of Rhode Island research, closed a $25m series B round yesterday featuring HighCape Capital and Elm Street Ventures.
Cybrexa is working on a platform that enables an antigen-independent targeting of tumours and intracellular delivery of cancer treatments.
The capital will allow Cybrexa to move its lead asset, CBX-12, into phase 1/2 trials in the first half of this year. The programme is aimed at advanced solid tumours.
Kevin Rakin, partner at HighCape Capital, said: “We believe Cybrexa’s technology and science form the basis for a robust development platform, capable of producing multiple targeted therapeutic options, for a variety of oncology indications.
“We see the progress of CBX-12 into human trials as a significant milestone for the platform, as well as providing even more opportunities from a business perspective.”
Cybrexa previously raised $21.1m in funding, according to a statement made following its $13.4m series B1 round in June 2019. That round was backed by Connecticut (CT) Innovations, HighCape Capital Special Opportunities Fund and Cycle Venture Partners.
HighCape, CT Innovations and assorted angel investors participated in a $6m funding round in June 2017 that was also billed as a series B.
