With crossover round in its pocket, synthetic lethality-focused Cyteir Therapeutics eyes a jump onto Nasdaq
Cyteir Therapeutics CEO Markus Renschler has his eye on the market. The Celgene vet pulled in an $80 million crossover round on Thursday to fuel Cyteir’s lead synthetic lethality program, and when the time is right, he’ll have the S-1 ready.
“We’re considering an IPO in 2021,” Renschler said, adding that the timing isn’t set in stone.
Until then, the Series C should give Cyteir the flexibility to grow its team, and advance its lead candidate — an inhibitor of RAD51-mediated DNA repair dubbed CYT-0851 — to Phase II as a monotherapy. The small biotech is also planning combination trials that pair CYT-0851 with other cancer treatments, like chemotherapies and potentially PARP inhibitors.
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