Cyclerion launches, raises $175M private placement

Cyclerion completed its spinout from Ironwood on April 2 and raised $175 million in a private placement from members of Cyclerion management, including CEO Peter Hecht and President and CSO Mark Currie, and undisclosed existing Ironwood shareholders and new investors. Hecht told BioCentury he expects the financing to support development of its pipeline for at least two years (see "Ironwood Spinout Cyclerion Planning $175M Private Placement")...