This article comes from HiTrends, Hirisends, author Iris Shen, 36 krypton authorized to release Canadian AI biotechnology company Cyclica today announced the completion of 23 million Canadian dollars (about 16 million US dollars) of the B round of financing.This round of financing was led by the American venture capital firm Drive Capital, with members of the management team of Chiesi Farmaceutici, GreenSky Capital and Cyclica participating.According to public information, Chiesi Farmaceutici is an Italian-based biopharmaceutical company participating in this investment, GreenSky Capital is a Canadian local venture capital fund headquartered in Toronto, and Drive Capital is a venture capital institution established in 2013.Mainly concentrated in the fields of AI, medical health and consumer services.Cyclica is the first biological company in Canada to use the AI platform for multi-pharmacological research. Its core platforms include Ligand Design and Ligand Express.The company uses artificial intelligence, computational biophysics, and biomolecular data to reshape the drug discovery process, shorten the preclinical pharmaceutical cycle, and through multiple pharmacology and multi-targeted drug properties, help pharmaceutical companies evaluate drug safety and effectivenessAt the same time, jointly develop new drugs with laboratories and pharmaceutical companies worldwide.Cyclica was once selected as one of the top 100 global companies in the field of AI in CB Insights 2019.According to reports, this round of financing will promote Cyclica’s multi-pharmacology AI drug discovery platforms Ligand Design and Ligand Express, and accelerate the commercialization process.About the company’s detailed products and business models, you can check our previous reports.In addition, the financing will support an academic cooperation project of Cyclica to help Cyclica and first-class academic research institutions jointly establish a joint venture, thereby promoting the commercial development of Cyclica in the field of multi-therapy.In April of this year, HiTrends reported that the company, under the introduction of Zhongguancun Dahe Capital and CCAA, has reached a cooperation with the Institute of Materia Medica of the Chinese Academy of Medical Sciences to evaluate a variety of new treatments from FDA-approved clinically safe drugsPotential drug for coronavirus pneumonia.Cyclica believes that at the scientific and commercial levels, avant-garde drug discovery methods can effectively continue to reduce the rate of drug discovery failures and shorten clinical time.Drive Capital, the leading investor in this round of financing, said to HiTrends that Cyclica has created a diversified portfolio of assets in various indication areas through a cooperative model and continues to cooperate with multinational companies.Cyclica is helping the world build a number of first-class biotech companies while also increasing their likelihood of success.This is why Drive Capital chose to invest in them in this round of financing.Naheed Kurji, co-founder, president and CEO of Cyclica, told HiTrends that Cyclica can use AI technology to help patients by using comprehensive and personalized methods to promote better drug discovery and development.”We support our partners through Cyclica’s platform and a team of applied scientists, and help them scale up through spin-off companies and joint ventures. Through joint efforts, we are creating biotechnology research and development pipelines for the future.” Naheed Kurji said.On June 29th, 19:30-20:10, 36 Krypton will go to sea to hold the second phase [Out of the Sea | Overseas Employment] to share. At that time, we will invite multinational headhunting company KingFisher to share with you how to do in Southeast Asia.”Hunt” to the right person and answer related questions.
36 krypton debuts | Canadian startup Cyclica completes $16 million in Series B financing
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