Cyteir Therapeutics, an early stage oncology biotech developing small molecule therapies that inhibit DNA damage repair, filed on Friday with the SEC to raise up to $100 million in an initial public offering.
Cyteir Therapeutics' lead candidate, CYT-0851, is a novel, oral small molecule inhibitor of homologous recombination, a DNA repair pathway critical for the survival of some cancers. CYT-0851 is currently in a Phase 1/2 trial in adult patients with hematologic malignancies and solid tumors. The company states that it has observed encouraging preliminary single agent activity and may initiate a registrational trial of the candidate in 2022, if warranted by the Phase 1/2 data and subject to FDA agreement. Cyteir Therapeutics also plans to initiate dosing in a Phase 1/2 trial of CYT-0851 in combination with various standard-of-care therapies in the 2H21.
The Lexington, MA-based company was founded in 2012 and plans to list on the Nasdaq under the symbol CYT. J.P. Morgan, Morgan Stanley, BofA Securities, and Wedbush PacGrow are the joint bookrunners on the deal. No pricing terms were disclosed.
