Toronto, ON – September 22, 2016
Cyclica, an in silico drug discovery company that offers a novel predictive analytics platform that helps develop better and safer drugs, announced that it has completed a $2.4 Million Series A1 financing. The syndicated round was led by Toronto-based GreenSky through the GreenSky Accelerator Fund I, LP, with additional investment from both existing and new investors, including the China Canada Angel Alliance, and the family of Mr. Anthony Griffiths. The funds will enable the company to scale up its sales and marketing efforts, and expand innovation through continued product development.
Michael T.R. List, Principal at GreenSky and a member of the Cyclica Board of Directors, said: “We continue to be impressed not only with the overwhelmingly positive response we are seeing for the technology, but with management’s ability to effectively commercialize a very complex and technical product.”
Naheed Kurji, President and CEO of Cyclica added that: “After developing, testing, and validating our core technology, we have now entered the market with a platform that is uniquely fit to scale in the pharmaceutical, nutraceutical and cosmeceutical industries. We have received encouraging feedback from our early clients in all three of these verticals, and this funding will allow us to take an even more active approach to communicating the value of, and commercializing, our technology. We sincerely appreciate the trust and confidence of all of our stakeholders and are excited about the path forward.”
Cyclica’s Ligand Express™ platform has been used and validated through third-party organizations to develop safer and more efficacious therapeutics. Whether hypothetical, pre-clinical, clinical, or FDAapproved, Cyclica offers insight and analysis into a small molecule’s effect, in order to augment drug discovery pipelines and efficiently take assets from bench-to-bedside. Ligand Express™ is unique in that it is a drug-centric platform. It currently features PROBEx (proteome-docking), SWITCHx (ligand effect prediction) & DIVEx (systems biology & drug-protein interactomes), and evaluates and compares small molecules to predict how each will interact with the human body (i.e human proteome). As such, Ligand Express™ provides value in finding novel desirable or undesirable targets, which provides clients with polypharmacological profiles that may identify unknown targets, prioritize lead candidates, elucidate adverse effects and point to repurposing opportunities. In addition, Cyclica’s proprietary database of structurally-characterized bacterial and viral proteomes can be used to identify new treatments for infectious diseases.
GreenSky is an award winning corporate finance advisory firm based in Toronto, delivering customized financial solutions to small and medium sized technology firms. GreenSky mandates are long-term partnerships with high growth potential companies and dedicated entrepreneurs. GreenSky principals bring together a unique combination of experience in technology, law and finance. GreenSky has the ability to bring extensive capital markets experience into a real-world context. GreenSky Capital makes investments in early-stage Medtech, Cleantech and IT companies through its affiliated venture capital fund, GreenSky Accelerator Fund I, LP.