Cyrano Therapeutics, a Delray Beach, FL-based regenerative medicine company, raised $9.0M in Series B funding.
The round was co-led by the Florida Opportunity Fund managed by DeepWork Capital and existing investors Lumira Ventures and Remiges Ventures.
The company intends to use the funds to advance FLAVOR, its Phase 2, double-blind, randomized clinical trial of CYR-064, an intranasal theophylline spray therapy to treat patients who have lost their sense of smell following recovery from a viral infection.
Led by Rick Geoffrion, President and CEO, Cyrano Therapeutics is a clinical stage regenerative medicine company developing therapies for people struggling with the loss of smell and taste.
The Phase 2 FLAVOR trial is a 150 subject randomized, double-blinded, placebo-controlled, multi-dose, multi-site clinical trial of CYR-064 for the treatment of post-viral hyposmia. The trial will be conducted at up to 15 sites in the US.
Commenting on the news, 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.“
