NEWS & MEDIA - PRESS RELEASE 11/12/24

Hyku Biosciences Appoints John Gustofson to its Board of Directors


  • John Gustofson, MS, MBA appointed to the Board of Directors

  • The appointment is in conjunction with Chugai Venture Fund joining syndicate with an investment that brings Hyku’s total seed financing to $64M

Lexington, MA – November 12, 2024 – Hyku Biosciences Inc. (“Hyku”), a biotechnology company utilizing cutting edge chemoproteomics to develop precision medicines, today announced the appointment of John Gustofson, MS, MBA, to its Board of Directors, in conjunction with a significant investment by Chugai Venture Fund. This seed extension financing, in addition to previous investment by RA Capital Management, Novartis Venture Fund, Droia Ventures, The Mark Foundation for Cancer Research, KB Investment and Eisai Innovation, brings the total capital raised by the company to $64M.

“We are very excited to welcome John to our Board. His commitment to innovation and his extensive experience in biotech and pharma will be an asset for Hyku as we continue to drive forward our innovative platform and exciting programs,” said Kleem Chaudhary, Ph.D., President and Chief Executive Officer at Hyku.

“We are impressed with Hyku’s exciting platform and immense potential. We look forward to working with this experienced and talented team to advance new medicines and bring value to shareholders,” said John Gustofson, Head, Chugai Venture Fund.

Hyku is leveraging its proprietary covalent platform targeting histidine, tyrosine and lysine-based binding pockets to build its rapidly advancing, small molecule pipeline against high-value targets addressing clear unmet clinical need.

About Hyku Biosciences

Hyku is a biotechnology company based in the greater Boston area, utilizing its proprietary discovery platform to inhibit disease targets that are challenging to address with conventional approaches. Hyku’s drug discovery engine is based on its proprietary platform technologies, which identify histidine, tyrosine and lysine-based binding pockets and enable rational drug design for the development of covalent or non-covalent medicines. The platform pioneered by Hyku has the potential to fundamentally expand the scope of small molecule drug discovery, greatly increase the potential to modulate many target classes, and bring significant therapeutic benefits to patients via first-in-class and best-in-class medicines.


To learn more, please visit www.hykubiosciences.com

About Chugai Venture Fund

Chugai Venture Fund is a pioneering investment firm focused on fostering innovation and driving transformative advances in the life sciences industry. As a subsidiary of Chugai Pharmaceutical Co., Ltd., we leverage our parent company’s extensive expertise and global presence to identify promising start-ups and cutting-edge technologies. Our mission is to help entrepreneurs and visionary teams realize their breakthrough ideas and ultimately contribute to the betterment of healthcare and society. By providing strategic funding, mentorship and access to resources, we aim to create a collaborative ecosystem that accelerates the development and commercialization of breakthrough therapies and medical solutions.


To learn more, please visit www.chugaiventurefund.com.

Contact

IR@hykubio.com

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