Norwood Firm Works on New Cancer Drugs-July 18, 2002

On this day, July 18, 2002, a groundbreaking announcement was made by Cyclis Pharmaceuticals Inc., a biotechnology company that has been making waves in the scientific community with its innovative approach to cancer treatment.

Cyclis Pharmaceuticals Inc., a relatively new player in the field, has managed to secure $5 million in venture funding from Ampersand Ventures, a Wellesley-based investment firm. This significant influx of capital will enable the company to further develop its novel cancer treatment, which aims to stimulate cancer cells to die while leaving normal cells unscathed.

At the helm of Cyclis Pharmaceuticals Inc. is President and Chief Executive Samuel Ackerman, a seasoned expert in the biotechnology industry. Under his leadership, the company has made tremendous strides in recent months, renting 10,000 square feet of space in Norwood suitable for research and prototype drug manufacturing. This strategic move will undoubtedly facilitate the company’s growth and enable it to expand its operations.

As of now, Cyclis Pharmaceuticals Inc. employs a team of 12 dedicated professionals who are working tirelessly to bring this revolutionary treatment to fruition. The company expects to hire an additional eight workers by the end of the year, further solidifying its presence in the community.

One of the most promising aspects of Cyclis’ technology is its reliance on natural cell mechanisms that help eliminate defective cells. These “checkpoints” monitor cells after every change and induce death in abnormal cells, a process that cancer cells are unable to replicate due to their faulty cellular structure. By activating these checkpoints in cancer cells, Cyclis’ drugs enable them to detect their own abnormality and self-destruct.

In animal tests, the company’s lead drug candidate, CO-501, has demonstrated remarkable efficacy when combined with the breast cancer drug Taxol. The results show that CO-501 successfully suppressed human ovarian cancer and human breast and prostate tumors, a testament to the potential of this innovative treatment.

The story behind CO-501 is one of serendipity and collaboration. Cyclis’ predecessor acquired the rights to this promising compound from Boston’s Dana-Farber Cancer Institute last year. Dr. Chiang J. Li, a former researcher at the hospital, played a crucial role in discovering the drug and has since been appointed as the company’s Vice-President of Research.

Cyclis Pharmaceuticals Inc. was founded just last year by Samuel Ackerman after he sold his previous biotechnology company. Ackerman is also an operating partner at Ampersand Ventures, which not only invested $5 million in Cyclis but also helped fund Ackerman’s other ventures.

Ampersand Ventures, with its impressive portfolio of investments in communications, information technology, biotech, and specialty materials companies, has demonstrated a keen eye for spotting emerging talent. With its $600 million in managed investments, the firm is well-positioned to support innovative startups like Cyclis Pharmaceuticals Inc.

As Cyclis Pharmaceuticals Inc. embarks on this exciting journey, it is clear that the company’s commitment to pushing the boundaries of medical research will have far-reaching implications for the treatment of cancer patients worldwide.

Archival Note: This article has been dynamically reconstructed from the original public record print archives of the Patriot Ledger