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Tuesday, Mar 19, 2024
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Pharmaceutical Firm Gets $23M in Venture Funding

San Diego-based aTyr Pharma Inc. announced Oct. 26 that it received $23 million in Series C financing led by Domain Associates, which has offices in San Diego and Princeton, N.J. Existing investors Alta Partners, Cardinal Partners and Polaris Ventures also participated in the round, according to a press announcement.

Proceeds from the funding will be used to accelerate the development of aTyr’s preclinical pipeline and advance its physiocrine drug candidates into clinical trials. Physiocrines are natural proteins that send signals between cells.

According to the company, physiocrines have applications relevant to a number of therapeutic areas ranging from immunology and hematology to metabolic disorders.

“Physiocrines offer a completely new set of pathways for developing novel therapeutics,” said James C. Blair, a partner at Domain Associates, in a press announcement. “We are enthusiastic to work with aTyr’s leadership team to build a world-class protein therapeutics enterprise.”

As the exclusive developer of physiocrine-based drugs, aTyr is well-positioned by this recent financing to build a strong pipeline of medicines for patients, said Jeff Watkins, chief executive officer of aTyr Pharma.

As part of the financing, Blair will serve as a director of the company, which was founded in 2006.

— Steve Sinovic

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