Versant Ventures Launches Lycia Therapeutics with $50 Million

SAN FRANCISCO & SAN DIEGO–(BUSINESS WIRE)–Biotechnology company Lycia Therapeutics, Inc. today exited stealth mode with a $50 million commitment from founding investor Versant Ventures. Proceeds are being used to develop lysosomal targeting chimeras, or LYTACs, as therapeutics for a broad set of currently intractable cell surface targets. Interest in the field of protein degradation continues to grow, as classical approaches to developing small molecule and biologic therapeutics have proven t