PUNE, India and CORK, Ireland, June 08, 2021 / B3C newswire / – CyGenica announced that it has raised US $ 1.4 million in a seed fund investment round, led by global venture capitalist SOSV. The funding round will accelerate the validation of CyGenica’s proprietary technology that enables safe, targeted and affordable intercellular drug delivery.
CyGenica’s disruptive technology solves the problem of delivering large molecule therapies into living cells without damaging them or triggering an unwanted immune response.
The current USD 1.4 million investment round was led by venture capitalist SOSV. Other investors participating in the round included the VOYAGER Health-Tech fund, David Rowan, founder of Voyagers.io, and angel investors Sharaf Yamani and Sami Mikati.
CyGenica intends to use this investment to accelerate the development of its breakthrough drug delivery technology for genome editing, seeking to be a key partner of biopharmaceutical companies in advancing cutting-edge cancer treatments. and rare diseases to improve the health and quality of life of patients. .
Speaking about the latest development, Dr Nusrat Sanghamitra, Co-Founder and CEO of CyGenica said:
“The challenge of delivering cancer drugs and genetic therapies, be it genes / RNA / CRISPR across cell membranes without damaging cells and triggering an unwanted immune response, remains a complex obstacle in the way. pharmaceutical industry. Our revolutionary technology works like a universal USB stick. It acts like a nanomachine that can deliver a multitude of cargoes carrying molecular information such as drugs and genetic therapies in an efficient and targeted manner without any toxicity and without minimal immunogenicity. This will revolutionize drug delivery and lead to better patient outcomes. “
Nusrat further underlined “This ongoing funding round has made it possible to integrate a diverse international network. This will help reduce the risks of our technology, expand our leadership team, and move us significantly closer to our goal of enabling safe and targeted intracellular delivery of genetic therapies for cancer and rare diseases. “
Bill Liao, SOSV partner explained “I am delighted to lead this investment because CyGenica has solved one of biotechnology’s most pressing issues: delivery. We are incredibly excited to be a part of this revolution.
David Rowan, founder of Voyagers.io said “Life-changing healthcare innovation doesn’t just come from established life science centers. The VOYAGERS Health-Tech Fund is particularly pleased to support CyGenica, a remarkable company born in Odisha, India with the potential to transform targeted drug delivery without the normal side effects that cancer and other patients have had to endure. . The VOYAGER community will do everything possible to support Dr Nusrat Sanghamitra and his team in their important mission.
Sami Mikati, an angel investor in the life sciences field, said: “Nusrat solves one of the most valuable therapeutic problems today. His approach is completely new, which is a reflection of his interdisciplinary background.
CyGenica is an Indo-Irish biotech start-up developing the world’s first molecular nanomachine for in vitro and in vivo delivery solutions for drugs and genetic therapies to help pharmaceutical companies solve the problem of unwanted side effects , toxicity and immunogenicity using unique intracellular delivery platform.
SOSV – The Accelerator VC – is an $ 800 million venture capital fund that manages global accelerator programs: HAX (Shenzhen / San Francisco) for computer hardware, IndieBio (San Francisco / NYC) for science life, Chinaccelerator (Shanghai) and MOX (Taipei) for the internet cross-border and dlab (NYC) for blockchain. SOSV invests in more than 150 companies per year and, over its two decades of history, has a track record that places it in the top 10% of venture capital funds in the world.
Dr Nusrat JM Sanghamitra, CEO / CSO
Posted by B3C News Wire