The gross proceeds of the offering, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Cyteir, are expected to be approximately $133 million excluding any exercise of the underwriters’ option to purchase additional shares. The offering is expected to close on...
“We are intrigued by the potential of RAD-51 inhibition, particularly due to early findings suggesting it could be helpful in treating lymphomas and other hematologic malignancies,” said Derek DiRocco, Ph.D., partner, RA Capital Management. “This promising mechanism, coupled with the demonstrated efficiency and expertise of...
“We progressed from initial compound discovery to the clinic in just two years, and early findings from our first clinical study of CYT-0851 suggest that we will be able to maintain this exceptional momentum,” said Markus Renschler, M.D., Cyteir president and CEO. “We’re excited to...
“The continued support for Cyteir from highly knowledgeable investors reflects the growing excitement around our novel application of synthetic lethality,” said Markus Renschler, M.D., Cyteir president and CEO. “This financing will support the recently launched first-in-human phase 1/2 study of CYT-0851 while simultaneously allowing us...
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...