Circle Pharma, a clinical-stage biopharmaceutical company focused on discovering and developing cell-permeable macrocycles as a new class of therapies, announced the successful closing of a $90 million Series D financing round – which includes the conversion of a convertible note. The Column Group led this funding with participation from new and existing investors, including Nextech Invest and Euclidean Capital.
Circle Pharma has been advancing the discovery and development of intrinsically cell-permeable macrocycles that can be delivered by multiple routes, such as oral administration. And Circle Pharma’s MXMO platform combines structure-based rational drug design and advanced synthetic chemistry in developing a new generation of macrocycle therapies for challenging targets to address unmet clinical needs. Circle Pharma is focusing its development efforts on cyclins, which are master regulators of the machinery that controls the progression of cells through the cell cycle and are key drivers in many cancers.
The proceeds from the funding will be used to fund the clinical development of CID-078, Circle Pharma’s first-and-only-in-class cyclin A/B RxL inhibitor, and supporting the development of the company’s portfolio of discovery programs built with its MXMO macrocycle platform.
With this latest funding round, Circle Pharma is well-positioned to advance its mission of creating effective treatments for cancer and other serious illnesses.
KEY QUOTE:
“We are grateful for the continued support of such a strong syndicate of investors as we advance our pioneering work in macrocycle therapeutics. This financing not only enables us to progress CID-078 through critical stages of clinical development but also allows us to further advance our pipeline of innovative therapies targeting cancer and other serious diseases.”
– David Earp, JD, Ph.D., CEO of Circle Pharma
