Cydan LLC of Cambridge announced its launch with $16 million in financing.
Cydan plans to focus on rare diseases and help acclerate the development and commercialization of the so-called orphan drugs designed to treat rare diseases. A rare and orphan disease is generally one that affects fewer than 200,000 patients – or about 1 in 1,500 people – in the US.In a press release, the company said that its financing was led by New Enterprise Associates and Pfizer Venture Investments, with participation from Alexandria Real Estate Equities Inc.
In a statement, Cydan chief executive Cristina Csimma said: “Cydan is taking a new approach to drug development – one that takes advantage of recent scientific breakthroughs in rare diseases and is externally focused, highly collaborative, and capital efficient. We are partnering with leading academic centers, patient foundations, and biopharmaceutical companies to identify the most promising rare disease programs and conduct de-risking studies to accelerate development decisions. The most viable programs will be spun out of the Cydan accelerator as new startup companies focused on making an impact on the lives of patients with rare diseases.”