CyGenica Garners $1.4 Million to Accelerate Cancer and Rare Genetic Disease Therapy
CyGenica has announced that it has raised $1.4 million in a seed fund investment round, led by global venture capital investor SOSV. The funding round will accelerate validation of CyGenica's proprietary technology which enables safe, targeted, and affordable intercellular drug delivery.
CyGenica's disruptive technology addresses the problem of delivering large-molecule therapeutics into living cells without damaging them or triggering an adverse immune response.
The challenge of delivering drugs for cancer and genetic therapies, be it genes/RNAs/CRISPRs across cell membranes without damaging the cells and triggering an adverse immune response remains a complex hurdle in the pharmaceutical industry. Our groundbreaking technology acts as a nanomachine which can deliver multitudes of cargoes carrying molecular information such as drugs and genetic therapeutics in an efficient, targeted manner without any toxicity and minimal immunogenicity, Dr Nusrat Sanghamitra, Co-founder and CEO of CyGenica said.
The current investment seed round of $1.4 million was led by venture capital investor 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 utilize the investment to accelerate the development of its disruptive drug delivery technology for genome editing, seeking to be a key partner of biopharmaceutical companies in the advancement of cutting-edge therapeutics for cancer and rare diseases to improve patients health and quality of life.
David Rowan, Founder of Voyagers.io said, "Life-changing healthcare innovation isn't only coming out of the established life-science hubs. The VOYAGERS Health-Tech Fund is particularly excited 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 bear. The VOYAGERS community will do all we can to support Dr Nusrat Sanghamitra and her team in their important mission."
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