SAN DIEGO, CA, November 3, 2021 (GLOBE NEWSWIRE) – Lynx Biosciences, Inc. ("LynxBio®"), a San Diego-based biotechnology company, today announced the successful closing of its Series Seed Preferred Stock offering led by Checkmate Capital Group, LLC ("Checkmate Capital"). Great Oaks Venture Capital, and existing investors, including WARF Ventures and Cove Fund, also participated in the investment round.
LynxBio is a commercial-stage biotechnology company combining patient-derived suspension cell co-culture assays, multi-omic readouts, and deep learning analytics to rapidly advance drug candidates in oncology and bring personalized cancer treatments to patients. The company's MicroC3™ platform is able to characterize complex diseases and therapies where suspension cells play critical roles, including hematological cancers, immunotherapies, and cell-based therapies.
The investment proceeds will allow LynxBio to continue the development of its MicroC3 platform to address unmet needs in oncological treatment and research. To date, the company has entered into collaborations with a significant number of community hospitals, NCI-designated cancer centers, and top-ten biopharmaceutical companies who have used LynxBio's platform to advance promising drug candidates and identify predictive biomarkers in clinical studies.
"We are delighted by Checkmate Capital's investment in LynxBio and their supportive, collaborative relationship with the company. We have been impressed with Checkmate Capital's expertise, and they are already proving to be a valuable addition to LynxBio's network of strong academic, industrial, and financial partners," stated LynxBio's founder and CEO, Chorom Pak, adding, "The current funding will facilitate further development of the MicroC3 platform, coming as LynxBio continues to build momentum in both our R&D and clinical efforts."
Tom Paschall, CEO of Checkmate Capital, commented, "We are thrilled to add LynxBio to our portfolio. As experienced biotech investors, we have been continually impressed by the company's world-class management team, scientifically validated technology, IP portfolio, and strong revenues. LynxBio has demonstrated that it delivers on its objectives and appears well-positioned to significantly impact cancer drug development and care, an expanding and profitable market. We look forward to working with the LynxBio team as the company enters its next stage of growth."
About Checkmate Capital
Checkmate Capital is an investment and strategic advisory group managing family office assets with a global commercial and financial network. Checkmate Capital's primary areas of investment are biotechnology, agriculture and waste technology, and energy technology. Our team is able to provide seasoned expertise in our focused industries, leveraging an international group of strategic partners, business talent, and resources.
For more information, visit www.checkmatecapital.net.
About Lynx Biosciences, Inc. (LynxBio®)
Lynx Biosciences, Inc. (LynxBio®) is a biotechnology company generating unparalleled biological insights by combining patient-derived disease models with high-content imaging and multi-omic readouts. By functionally characterizing patients’ tumors in the context of autologous immune components, LynxBio leverages its proprietary platform to provide truly integrative, multi-omic cancer signatures, identify composite biomarkers of response, and discover immuno-oncology targets with a higher probability of translational success. LynxBio is headquartered in San Diego, CA, and has forged partnerships with some of the largest biopharma and most innovative biotech companies to drive therapeutic discovery and development.