FL-based Cyrano Therapeutics seures $9.0M in series B round funding. The Florida Opportunity Fund, which is overseen by DeepWork Capital, along with current investors Lumira Ventures and Remiges Ventures, co-led the funding round.
With the funding, the business hopes to progress FLAVOUR, a Phase 2, double-blind, randomised clinical trial of CYR-064, an intranasal theophylline spray medication intended to treat patients with post-viral infection loss of smell.
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Cyrano Therapeutics, a clinical-stage regenerative medicine firm led by President and CEO Rick Geoffrion, is creating treatments for those who suffer from taste and smell loss.
The Phase 2 FLAVOUR experiment is a multi-dose, multi-site, randomised, double-blind, placebo-controlled clinical investigation involving 150 subjects that aims to treat post-viral hyposmia with CYR-064. Up to fifteen locations around the US will participate in the trial.
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Rick Geoffrion said: “This Series B financing enables us to advance what we believe to be a first-of-its-kind treatment for patients suffering from long-term smell loss due to a viral infection.“
About Cyrano Therapeutics
A novel, patented intranasal solution has been created by the Cyrano team to help patients who have a persistent loss of taste and smell regain their ability to function. At least 14 million people in the US and a comparable number in Europe suffer from this illness, which has a major negative influence on well-being, safety, and quality of life.
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