# Lycia Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lycia-therapeutics

- Industry: Biotechnology
- Headquarters: South San Francisco, US
- Website: www.lyciatx.com
- Total disclosed funding: $277M
- Latest round: Series D (Jun 10, 2026)
- Investors on record: 17

## About

Established in 2020 by founder Carolyn Bertozzi and based in California, US, Lycia Therapeutics, Inc. specializes in the development of targeted protein degradation therapies to treat diseases by degrading disease-causing proteins. In June 2026, Lycia Therapeutics, Inc. raised USD 75 million in series D funding co-led by Janus Henderson Investors and Balyasny Asset Management, with participation from OrbiMed Advisors, HBM Partners, Adage Capital Management, Venrock, RTW Investments, Invus [DUP], Franklin Templeton, and Eli Lilly & Company. Aetna Wun Trombley is the CEO.

Lycia Therapeutics’ primary product focus is on developing LYTAC extracellular protein degraders. These degraders are designed to harness the body’s lysosomal degradation pathways to target and eliminate disease-causing extracellular proteins. The company’s product pipeline includes various LYTAC degraders targeting a range of disease indications, including autoimmune and inflammatory conditions. These therapeutic candidates are designed to degrade soluble and membrane-bound proteins that contribute to disease pathology. Lycia Therapeutics has developed LYTACs across multiple modalities, including low-molecular-weight compounds, antibodies, and bispecific antibodies.
 
The company plans to use the June 2026 funding to support the clinical development of its programs LCA-0061 for food allergy and LCA-0321 for Graves’ disease and to advance its broader LYTAC pipeline toward early clinical proof of concept.

## Funding rounds

- Series D, Jun 10, 2026, $75M — OrbiMed Advisors, HBM Partners, Venrock, Adage Capital Management, Balyasny Asset Management, Invus Financial Advisors, Eli Lilly & Company, RTW Investments, Franklin Templeton, Janus Henderson Investors
- Series C, Apr 26, 2024, $107M — Alexandria Venture Investments, Invus [DUP], Marshall Wace, Redmile Group, Eli Lilly & Company, RTW Investments, Franklin Templeton, Cowen Investment Management, Janus Henderson Investors, Venrock Healthcare Capital Partners
- Series B, Sep 9, 2021, $70M — Versant Ventures, Alexandria Venture Investments, Invus [DUP], Redmile Group, Eli Lilly & Company, RTW Investments, Cowen Investment Management
- Series A, Jun 9, 2020, $25M — Versant Ventures

## Investors

- Versant Ventures (https://capitalatlas.ai/funds/versant-ventures) — Series A, Series B
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series B, Series C
- Invus [DUP] — Series B, Series C
- Redmile Group (https://capitalatlas.ai/funds/redmile-group) — Series B, Series C
- Eli Lilly & Company — Series B, Series C, Series D
- RTW Investments (https://capitalatlas.ai/funds/rtw-investments) — Series B, Series C, Series D
- Cowen Investment Management — Series B, Series C
- Marshall Wace (https://capitalatlas.ai/funds/marshall-wace) — Series C
- Franklin Templeton (https://capitalatlas.ai/funds/franklin-templeton) — Series C, Series D
- Janus Henderson Investors — Series C, Series D
- Venrock Healthcare Capital Partners (https://capitalatlas.ai/funds/venrock-healthcare-capital-partners) — Series C
- OrbiMed Advisors (https://capitalatlas.ai/funds/orbimed-advisors) — Series D
- HBM Partners (https://capitalatlas.ai/funds/hbm-partners) — Series D
- Venrock (https://capitalatlas.ai/funds/venrock) — Series D
- Adage Capital Management — Series D
- Balyasny Asset Management — Series D
- Invus Financial Advisors (https://capitalatlas.ai/funds/invus-financial-advisors) — Series D