On June 24, 2020, Cyclica announced the close of a $23 million Series B financing round leg by Drive Capital. The financing will accelerate Cyclica’s commercial strategy to create and own hundreds of drug discovery programs across multiple therapeutic areas. These programs are created via spin-outs and joint ventures with top tier research institutions.
Drive Capital is an Ohio-based venture capital firm focused on investments in technology, healthcare and consumer companies.
Cyclica is a Toronto-based biotechnology company that leverages AI and protein biophysics to accelerate drug discovery and reduce failure rates.
Osler, Hoskin & Harcourt LLP advised Drive Capital with a team consisting of Andre Perey, Michael Grantmyre and Horatiu Porime (Emerging & High Growth Companies).