Cyclarity Therapeutics Closes Tranche 1 of Series A Funding Round

From the press release.

Cyclarity Therapeutics, Inc. (“Cyclarity”), announces the closing of the first tranche of its Series A funding round, led by Ki Tua Fund LP and Starbloom Primrose LP.

Cyclarity will use funds from this round to commence clinical trials later this month for the development of UDP-003, a novel therapeutic designed to reduce atherosclerotic plaque accumulation by targeting its root cause, the accumulation of toxic oxidized cholesterol in cells and tissues.

Characterized by plaque accumulation in the arteries, atherosclerosis is the main contributor to cardiovascular diseases, including heart attack and stroke, and is responsible for up to 44% of all deaths worldwide. “We’re in the clinic,” noted Matthew O’Connor, CEO of Scientific Affairs, “with a drug that has the potential not only to treat atherosclerosis, but to reverse and repair it. It’s a first, and we’re very proud of this step.”

Tranche 1 comprised ~$6.4M USD. Tranche 2, expected to raise $2.6-5.6M, will fund the patient portion of the trial. That tranche is partially committed and is expected to close soon.

About Cyclarity Therapeutics, Inc.
Cyclarity Therapeutics, Inc., is pursuing a mission to treat the underlying causes of age-related disease. The company develops simple and direct interventions targeting oxidized cholesterol using rationally designed molecules, to provide the first true disease-modifying treatments for common age-related conditions such as atherosclerosis, heart attack and stroke. Its products are based on novel derivatives of a well-known, safe compound and a new way of looking at cardiovascular disease. For more information, please visit www.cyclaritytx.com or send an email to press@cyclaritytx.com