# Pacylex Pharmaceuticals

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pacylex-pharmaceuticals

- Industry: Pharmaceuticals
- Headquarters: Edmonton, Canada
- Website: www.pacylex.com
- Latest round: Series A (Jun 2, 2021)
- Investors on record: 1

## About

Pacylex Pharmaceuticals, Inc. is a Canadian biopharmaceutical company focused on developing pioneering cancer therapies, specifically targeting advanced treatments for patients with refractory cancers.Pacylex Pharmaceuticals, Inc., founded in 2012 in Edmonton, Canada, specializes in oncology therapeutics. The company has raised a total of USD 9.80 mn across various funding rounds, with its most recent funding event being a Venture Debt round in June 2021, which raised USD 3.90 mn. The company's leadership includes CEO Michael Weickert, while the founders are John Mackey, Luc Berthiaume, and Ryan Heit.Pacylex Pharmaceuticals Inc. focuses on developing innovative cancer therapies, primarily centered around its lead product, zelenirstat, which is a first-in-class oral myristoylation inhibitor. This therapy targets N-myristoyltransferase (NMT) to disrupt myristoylation, a process essential for numerous cancer cell functions, thereby providing a new treatment option for patients with refractory cancers. Zelenirstat is designed for daily oral administration, boasting features such as excellent bioavailability and a favorable safety profile, making it suitable for various solid tumors and hematological malignancies. The company's development efforts are particularly aimed at addressing urgent needs in oncology, specifically targeting leukemias, lymphomas, and other cancers where traditional treatments have limited efficacy. Pacylex is actively pursuing partnerships for the development of its products, including seeking ADC development partners for its advanced therapies, which are intended for markets in North America and beyond.While specific revenue figures for Pacylex Pharmaceuticals are not disclosed, the company's business model revolves around partnerships and collaborations for the development and commercialization of its therapeutic offerings. Revenue generation may occur through arrangements with pharmaceutical companies and research institutions focused on oncology, where Pacylex provides its innovative drug formulations for clinical trials or licensing agreements. The flagship product, zelenirstat, is positioned within a framework that involves various transaction structures such as B2B partnerships for drug development, alongside direct collaborations for potential market access. Given its focus on oncology, Pacylex's clientele primarily includes healthcare providers, oncology specialists, and research institutions. These transactions may also potentially include milestone payments tied to clinical trial progress and regulatory approvals.Following the recent funding round in June 2021, Pacylex Pharmaceuticals, Inc. plans to utilize the raised USD 3.90 mn to support the initial Phase 1 clinical investigation of PCLX-001, an N-myristoyl transferase inhibitor aimed at treating solid tumors and lymphoma patients. The company is actively working on expanding its therapeutic portfolio and intends to explore new markets, particularly within North America and beyond, by deploying strategies aimed at enhancing its product development pipeline.

## Funding rounds

- Series A, Jun 2, 2021 — Greenfire Bio

## Investors

- Greenfire Bio (https://capitalatlas.ai/funds/greenfire-bio) — Series A