RubrYc Therapeutics announced the closing of $10 million in financing as the startup presses ahead in its efforts to discover new antibody drugs.
With the financing, San Ramon, CA-based RubrYc says it has completed its spinoff from HealthTell, a company that has developed tests for analyzing the immune system’s response to disease. RubrYc was founded in 2017 as a biotherapeutic discovery business of HealthTell, also based in San Ramon. RubrYc says it has exclusive rights to libraries of chemicals developed by HealthTell.
RubrYc says it will use the funding to build its platform for discovering antibody drugs and seek drug discovery partnerships with biotech companies. RubrYc also plans to develop its own molecules.
Third Point Ventures led RubrYc’s Series A round of funding. Paladin Capital Group and Vital Venture Capital also participated in the financing.
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