Cambridge-based biopharma company Cyteir Therapeutics has secured $40 million in Series B funding, according to company database Crunchbase, topping the city’s recent funding headlines. The cash infusion was announced Oct. 15 and led by Novo Holdings.
According to its Crunchbase profile, "Through a unique cancer treatment approach, Cyteir Therapeutics is creating breakthrough solutions to the major challenges facing cancer researchers today. Currently in development is the answer to the oncology triumvirate: reducing side effects, reducing therapy resistance and inducing diseased cell destruction."
The eight-year-old company has raised three previous funding rounds, including a $29 million Series B round in 2018.
The round brings total funding raised by Cambridge companies in biotechnology over the past month to $232 million, an increase of $150 million from the month before. The local biotechnology industry has seen 80 funding rounds over the past year, capturing a total of $3.5 billion in venture funding.
In other local funding news, therapeutics company Elicio Therapeutics announced a $33 million Series B funding round on Oct. 2, led by Clal Biotechnology Industries.
According to Crunchbase, "Elicio is committed to transforming the lives of patients and their families by re-engineering the body’s immune response to defeat cancer. By combining expertise in materials science and immunology, Elicio is engineering potent vaccines and immuno-therapies for an array of aggressive cancers."
The company also raised a $30 million Series A round earlier this year.
Also of note, wellness and wearables company Embr Labs raised $6 million in Series B funding, announced on Sept. 18 and led by DigiTx Partners.
From Crunchbase, "Embr Labs is a 'feelable' technology company focused on wellness that harnesses the power of cutting-edge technology to improve thermal comfort. The company’s flagship product, the Embr Wave, is an intelligent bracelet that allows people to control how cold or hot they feel. It leverages precisely engineered algorithms to deliver temperature sensations in waves, triggering the human body’s natural response to temperature change to help people feel more comfortable."
The company previously raised $1.4 million in Series A funding in 2018.
Rounding out the city's recent top local funding events, insurance company Gradient A.I. raised $6 million in Series A funding, announced on Oct. 4.
From Crunchbase, "At gradient A.I., we’re tackling some of the most challenging problems within the insurance and healthcare industries, while leveraging advanced data analysis and machine intelligence. You have the historical data and the deep understanding of the challenges. Our team will work with you to address these challenges using our product that prioritizes your needs."
The company previously raised $4.9 million in funding earlier this year.
This story was created automatically using local investment data, then reviewed by an editor. Click here for more about what we're doing. Got thoughts? Go here to share your feedback.
