Lyric debuts with $20.4M series A

Gastrointestinal newco Lyric Pharmaceuticals Inc. (South San Francisco, Calif.) raised $20.4 million in a series A round led by RiverVest Venture Partners; Sante Ventures; and Third Point Ventures. Aperture Venture Partners also participated.

Lyric said the round will fund two clinical trials of an in-licensed candidate. President and CEO David Wurtman said Lyric expects data this year from a trial that the company began last week. He said it would then begin a proof-of-concept trial, with data expected in mid-2017. ...