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Saturday, February 24, 2024

Circle Pharma Raises $66 Million in Series C Financing

Circle Pharma, Inc., a macrocycle drug discovery and development company focused on intractable cancer targets, today announced that it has raised $66 million in an oversubscribed Series C financing.

The financing was co-led by The Column Group and Nextech Invest. All investors from the prior round participated in the Series C, including Pandect Bioventures, together with new investors including Euclidean Capital, Pavillion Capital, Hartford HealthCare Endowment and Eli Lilly and Company.

Proceeds from the financing will be used to advance the Company’s wholly owned cyclin-targeted programs towards the clinic, with potential applications in Rb-dysregulated cancers such as small cell lung cancer and cyclin E dependent malignancies, including ovarian cancer. In addition, the Company will apply its macrocycle platform to other precision oncology targets that have a clear therapeutic rationale but are considered undruggable with small molecules.

“Circle has made excellent progress since its Series B financing last year and we are very pleased to have co-led this round with Nextech Invest,” said Peter Svennilson, managing partner at The Column Group. “We look forward to seeing Circle’s pioneering macrocycle platform bring highly innovative, first-in-class therapies to patients.”

“We are deeply appreciative of the continuing support of our existing investors and welcome the support of a strong group of new investors in this financing,” said David J. Earp, J.D., Ph.D., Circle’s President and CEO. “The funding will help drive our progress to the clinic and support the addition of new pipeline programs.” 

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