Cydan LLC is a drug accelerator program that identifies and removes possible risks regarding potential therapeutic and commercial issues arising from its applications. It had announced the launch of a US $16 million in financing for the period.
Among the financiers for this new round is New Enterprise Associates and Pfizer Venture Investments, together with Alexandria Real Estate Equities, Inc.
The work of the accelerator centers on identification of promising assets with well-understood biology and proof of concept data models coming from all sources. The data generated from the de-risking process would allow Cyden to form independent companies as well as form strategic partnerships.
According to Cyden CEO Cristina Csimma, Pharm, D., "Cydan is taking a new approach to drug development - one that takes advantage of recent scientific breakthroughs in rare diseases and is externally focused, highly collaborative and capital efficient.We are partnering with leading academic centers, patient foundations and biopharmaceutical companies to identify the most promising rare disease programs and conduct de-risking studies to accelerate development decisions. The most viable programs will be spun out of the Cydan accelerator as new startup companies focused on making an impact on the lives of patients with rare diseases."
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