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Cylene Receives $44M in Venture Funding

San Diego-based Cylene Pharmaceuticals Inc. has raised $44 million in a series C financing, the company announced Jan. 23.

The round was co-led by Swiss venture capital firm HBM BioVentures and Lilly Ventures, the venture capital arm of Indianapolis-based pharmaceutical giant Eli Lilly.

Cylene will use the money to fund phase three human clinical trials for a potential cancer drug called, for now, CX-3543. Cylene has three other potential cancer drugs, though CX-3543 is the most advanced candidate.

Besides HBM and Lilly, other investors included Sanderling Ventures, Novartis BioVenture Fund, BioVentures Investors Research Corp. Technologies, Mitsui & Co. Venture Partners and Celgene Corp.

, Katie Weeks

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