Cyteir Therapeutics Secures $29 Million Series B
Choate recently advised Cyteir Therapeutics, a leader in the discovery and development of novel therapeutics based on the biology of DNA repair and synthetic lethality for the treatment of cancer and autoimmune diseases, in its $29 million Series B preferred stock financing. The investment was led by Venrock, who was joined by returning investors including Celgene, along with new investors Lightstone Ventures and DROIA Oncology Ventures.
Proceeds from the financing will be used to progress the company's lead program focused on selective, small-molecule inhibitors of the protein RAD51 for use in oncology, with the goal of entering initial clinical trials in 2019. Proceeds will also be used to accelerate preclinical development of synthetic lethality therapeutics for autoimmune diseases.