Healthcare Industry News: HSMN NewsFeed
News Release - April 11, 2018
RubrYc Therapeutics Completes $10M Million Series A FinancingSAN RAMON, Calif., April 11, 2018 -- (Healthcare Sales & Marketing Network) -- RubrYc Therapeutics, Inc., a biotherapeutics discovery business, announced today it has closed a $10 million Series A Preferred Equity financing round led by Third Point Ventures, with participation by Paladin Capital Group and Vital Venture Capital.
"Our development of unique chemical libraries has allowed us to map the surfaces of drug targets with unprecedented resolution, and to identify off target binding events that hamper drug discovery and development," said Dr. Isaac Bright, CEO of RubrYc Therapeutics. "With our Series A financing, which completes our spin-off from HealthTell, Inc., we are continuing to build our antibody discovery platform, proprietary pipeline of therapeutic candidates, and actively initiating new pharmaceutical partnerships."
RubrYc is focused on improving drug discovery through proprietary insights into critical interactions at the drug/target interface. Using diverse chemical libraries developed and supplied by HealthTell, Inc., RubrYc is training algorithms that inform improved decision-making throughout drug discovery. The company will be collaborating with biotechnology companies in early drug discovery and developing its own molecules.
"I am excited to launch RubrYc Therapeutics and believe that the company's applications of our technology address important challenges in antibody characterization. We are already seeing results in the earliest phases of RubrYc programs, and I look forward to supporting the team as the company grows," said Bill Colston, CEO of HealthTell and Executive Chairman of RubrYc Therapeutics.
About RubrYc Therapeutics
Founded in 2017, RubrYc Therapeutics, Inc. emerged as a biotherapeutic discovery partner of immunomics leader HealthTell, Inc. The Company has exclusive rights to HealthTell technology and combines binding information from diverse chemical library assays, with gold-standard drug discovery methods to develop biotherapeutic candidates that are optimized for clinical development.
Source: RubrYc Therapeutics
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