Cyclica has announced that it has completed a $2.25M Series A2 financing, an extension of the $2.4M Series A1 financing round that closed in September 2016. The syndicated investment group was led by GreenSky Accelerator Fund II, with co-investment by Epic Capital, Uni-Innovate Group, HH&E Ventures, and new and existing private investors. The funds will enable the company to continue with global sales expansion, continue to invest in R&D efforts, and drive innovation.
Michael T.R. List, Principal at GreenSky Capital and member of the Cyclica Board of Directors, said: “We continue to believe in Cyclica’s ability to deliver on their strategy, execute on opportunities that are in front of them, and are confident in Cyclica’s success. GreenSky has been a partner of Cyclica’s for over 3 years and we are thrilled with the commercial validation that Cyclica is now seeing in the market.”
Naheed Kurji, President and CEO added that: “In June 2017, we soft- launched our Software-as-a-Service platform at www.ligandexpress.com following requests from our clients and the market. This financing will help us continue, over the next 12 months, to focus on commercializing the platform globally. Critical to our success in achieving our vision of being an integral utility platform in the pharma R&D value chain is a talented and dedicated team, including a renowned group of advisors and board members, and shareholders who we view as partners on our journey to success.”