Spinoff firm investments

BAR HARBOR — Cyteir Therapeutics, a Cambridge, Mass.-based biopharmaceutical company and spin off of The Jackson Laboratory (JAX), has attracted new financing totaling $5.5 million.

Cyteir is using its expertise in DNA repair and genome instability to develop new targeted therapeutics for a range of human diseases, including cancer and autoimmune disorders.

The financing came from private investors and Celgene Corporation. In addition, Cyteir Therapeutics obtained an exclusive license to key technologies and patents from JAX.

Cyteir Therapeutics was founded by Jackson Laboratory Associate Professor Kevin Mills, Tim Romberger and JAX Chairman Emeritus David Shaw. The company advances Mills’ pioneering discoveries in the science of genomic instability and DNA repair.

“Dr. Mills’ insights are a potential game-changer in treating many cancers,” said oncologist and Jackson Laboratory President and CEO Edison Liu. “By targeting what he calls ‘genetic co-dependencies,’ he has shown that it’s possible to use the mechanisms involved in genetic instability to cause tumor cell self-destruction without attacking normal cells.”

Cyteir Therapeutics will use the new financing to accelerate its current lead program, enhance and diversify its screening platform and build its pipeline by developing additional new drug candidates.

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