Cyclica, an in silico drug discovery company that offers a novel predictive analytics platform that helps develop better and safer drugs, announced that it has completed a $2.4 Million Series A1 financing.
The syndicated round was led by Toronto-based GreenSky through the GreenSky Accelerator Fund I, LP, with additional investment from both existing and new investors, including the China Canada Angel Alliance, and the family of Mr. Anthony Griffiths. The funds will enable the company to scale up its sales and marketing efforts, and expand innovation through continued product development.
Michael T.R. List, Principal at GreenSky and a member of the Cyclica Board of Directors, said: “We continue to be impressed not only with the overwhelmingly positive response we are seeing for the technology, but with management’s ability to effectively commercialize a very complex and technical product.”
Naheed Kurji, President and CEO of Cyclica added that: “After developing, testing, and validating our core technology, we have now entered the market with a platform that is uniquely fit to scale in the pharmaceutical, nutraceutical and cosmeceutical industries. We have received encouraging feedback from our early clients in all three of these verticals, and this funding will allow us to take an even more active approach to communicating the value of, and commercializing, our technology. We sincerely appreciate the trust and confidence of all of our stakeholders and are excited about the path forward.”