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Cyterix raises $9.2M in Series A financing from The Column Group and SV Life Sciences

April 11, 2017

"The completion of this financing with two very experienced investor groups underscores the potential for safer, more efficacious anti-cancer drugs that is offered by Cyterix's targeted prodrug approach," said Prof. Everett. "Continuing in our cash-efficient business model, we expect these funds to advance our two lead compounds through IND-enabling studies, as well as further expand the development of our technology platform and our exploration of new targets within the extra-hepatic cytochrome P450 enzyme family. We are very grateful for the assistance and support that we've received to date from the University of Dundee, the funding body Cancer Research UK, and latterly the University of California at San Francisco - Mission Bay. We are also grateful to have benefited from the enormous knowledge and drug development experience of our late co-founder, John Curd."

"Currently approved cancer drugs may be effective against malignant cells, but often suffer from dose-limiting toxicities due to their effects on normal, as well as cancerous tissues," said Richard D. Klausner, M.D., Managing Partner at The Column Group and former Director of the National Cancer Institute. "Cyterix has created a novel proprietary approach aimed at tackling one of the holy grails of cancer drug development - the ability to specifically and selectively deliver drugs into tumor cells."

"Cyterix represents an excellent combination of innovative science, experienced management and a cost-efficient business structure," said Lutz Giebel, Ph.D., Managing Partner at SV Life Sciences. "Together these factors, combined with the clear need for safer cancer therapeutics, make the company a compelling investment prospect."

"We are delighted to be involved in this exciting venture and to see University of Dundee technology being translated through Cyterix, which is the University's first US-based startup company," said Diane Taylor, Director of The University of Dundee's Technology Transfer Office.

SOURCE Cyterix Pharmaceutics, Inc.,