The biotech startup secured its Series B round, which was led by Drive Capital with participation from Chiesi Farmaceutici, GreenSky Capital and members of Cyclica’s management team. (VentureBeat)
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The biotech startup secured its Series B round, which was led by Drive Capital with participation from Chiesi Farmaceutici, GreenSky Capital and members of Cyclica’s management team. (VentureBeat)
Talking point: Cyclica’s drug-discovery platform leverages artificial intelligence in the biophysics space. According to the U.S. Food and Drug Administration, a new drug takes an average of 12 to 15 years and over US$2.6 billion dollars to develop—a process Cyclica hopes to decentralize by partnering with other companies and research institutions. With the support of the Ontario Centres of Excellence and IBM, the company has recently harnessed the power of supercomputers to map out a database that will help researchers identify genetic variants. The new funds will be used to forge new partnerships as well as expand its application within the pharma industry and adjacent sectors, such as agro-chemicals.
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