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§ Private Profile · Washington, DC, USA
Clinical-stage regenerative medicine company developing intranasal therapies for chronic hyposmia to restore smell and flavor.
Cyrano Therapeutics is a clinical-stage regenerative medicine company based in Delray Beach, Florida, that develops intranasal therapies to restore smell and flavor function lost due to viral infections or trauma. The company's lead product candidate, CYR-064, targets chronic hyposmia, a condition affecting approximately five percent of the United States population that currently lacks approved treatments. Operating with fewer than 25 employees, the biopharmaceutical firm received FDA clearance for a Phase 2 trial of CYR-064 in early 2023, with topline data expected in the fourth quarter of 2025. The venture-backed enterprise has raised $21.8 million in total equity financing across two rounds, securing capital from lead investors Lumira Ventures and Remiges Ventures, while adding former Satsuma Pharmaceuticals CEO John Kollins to its board. Cyrano Therapeutics was founded in 2014 by Rick Geoffrion and Robert Henkin.
Cyrano Therapeutics has raised $21.8M across 2 funding rounds.
Cyrano Therapeutics has raised $21.8M in total across 2 funding rounds.
Cyrano Therapeutics has raised $21.8M in total across 2 funding rounds.
Cyrano Therapeutics's investors include Florida Opportunity Fund, Lumira Ventures, Remiges Ventures, DeepWork Capital, Gerry Brunk, Takahide Koda.
Cyrano Therapeutics has raised $21.8M across 2 funding rounds. Most recently, it raised $9.0M Series B in January 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Jan 1, 2024 | $9M Series B | Florida Opportunity Fund, Lumira Ventures, Remiges Ventures | DeepWork Capital | Announced |
| Dec 10, 2020 | $12.8M Series A | Gerry Brunk, Takahide Koda | — | Announced |
Cyrano Therapeutics is a private, venture-backed, clinical-stage regenerative medicine company developing CYR-064, a novel intranasal spray therapy to restore smell and taste in patients with post-viral hyposmia (partial smell loss), a condition affecting millions, exacerbated by COVID-19.[1][2][3][4] The company serves patients suffering from olfactory dysfunction caused by viral infections, addressing a critical unmet need with no FDA-approved treatments available, through its ongoing Phase 2 FLAVOR trial enrolling 150 patients to evaluate safety and efficacy over 32 weeks.[2][3][4] With $21.8M in total funding, including a $9M Series B in 2023, Cyrano demonstrates strong growth momentum, highlighted by FDA IND clearance in 2023, trial initiation, and topline data expected in H2 2025, plus a 2025 partnership option with Kyorin Pharmaceutical for Japan.[2][3][5]
Cyrano Therapeutics was founded by Rick Geoffrion, who serves as President, CEO, and Board Member, drawing from his 35+ years in pharmaceutical and medical device management, including founding seven therapeutic companies and roles on the Medical Device Innovation Consortium and Cleveland Clinic advisory committee.[1] Geoffrion's personal experience with smell and flavor loss drove the company's focus on anosmia therapies, emerging amid rising post-viral cases post-COVID-19, which increased U.S. prevalence over tenfold from pre-pandemic levels of 15 million.[1][4] Early milestones include securing venture backing from Lumira Ventures, DeepWork Capital, and others; FDA clearance of the IND for CYR-064's Phase 2 trial in January 2023; and launching the investigator-initiated FLAVOR study, marking its transition to active clinical development.[2][3][5]
Cyrano rides the wave of regenerative medicine and post-viral therapeutics, fueled by COVID-19's surge in olfactory disorders—now over tenfold higher than pre-pandemic levels—affecting daily safety (e.g., detecting smoke) and well-being for millions worldwide.[1][4] Timing is ideal post-2023 FDA clearance and amid growing demand for sensory restoration therapies, with market forces like investor interest in biotech innovation (e.g., BIO International 2025 participation) and strategic pharma partnerships accelerating progress.[3][5] By pioneering olfactory-targeted delivery, Cyrano influences the ecosystem, validating intranasal tech for neurodegenerative and viral conditions while partnering with firms like Kyorin to expand globally, potentially setting standards for sensory medicine.[1][3][5]
Topline Phase 2 FLAVOR data in H2 2025 will be pivotal, potentially de-risking CYR-064 for Phase 3 and commercialization as the first approved smell loss therapy, unlocking a massive market amid ongoing viral threats.[2][3] Trends like AI-driven drug delivery, rising post-viral care demand, and Japan expansion via Kyorin will shape growth, evolving Cyrano from clinical pioneer to global regenerative leader—transforming lives as Geoffrion envisioned from personal loss to widespread sensory recovery.[1][3][5]