With $50M from Versant, Lycia takes targeted degradation outside the cell
Lycia, co-founded by Carolyn Bertozzi, cracks open the world of targeted degradation of extracellular proteins
Fourteen months after leading biochemist Carolyn Bertozzi published a preprint on a new class of compounds that degrade extracellular proteins inaccessible to PROTACs, Versant-built Lycia has emerged with $50 million to turn that technology into therapies.
“We saw this as an opportunity for completely new ways of doing protein degradation focused on extracellular proteins, which make up about 40% of proteins overall,” said Versant Ventures’ Clare Ozawa.
The company’s LYTAC (lysosomal targeting chimera) technology