Encycle Therapeutics nabs $2.85 mln in round led by Takeda Ventures
Toronto-based drug discovery startup Encycle Therapeutics Inc has closed $2.85 million in follow-on funding. The round was led by Takeda Ventures, the venture capital arm of Japan's Takeda Pharmaceutical Co Ltd, and was joined by Accel-Rx Health Sciences Accelerator, BDC Capital and MaRS Investment Accelerator Fund. Encycle said the deal's proceeds will support development of its nacellin platform chemistry and advance its pipeline of novel therapeutics. Encycle will also be supported in building on research collaborations and preparing for a Series A financing and/or strategic partnerships. Encycle raised $2.5 million from investors last November.
30 September 2015•3 mins read
