Cyrano Therapeutics Raises $9M in Series B Funding to Revolutionize Treatment for Chronic Taste and Smell Loss

Cyrano Therapeutics is excited to announce a significant funding milestone, having raised $9,000,000 to accelerate the development of its groundbreaking intranasal formulation, CYR-064. This proprietary therapeutic offering is designed specifically to restore taste and smell in patients suffering from chronic sensory loss—a distressing condition that impacts over 40 million individuals in the United States and Europe, as well as millions more worldwide. With no other marketed pharmaceutical therapies available and a noticeable gap in the development pipeline, Cyrano’s innovative approach not only addresses a critical unmet need but also promises remarkable improvements in patient safety, quality of life, and overall well-being. The funds raised will be instrumental in supporting the ongoing Phase 2 placebo-controlled, double-blind randomized trial being conducted at 14 different sites across the United States. This pivotal trial follows the success of a 92-patient pilot study, which laid the foundation for further exploration into the efficacy and safety of CYR-064. Looking forward, the anticipated data readout in Q1 2025 is expected to provide robust evidence of clinical benefit and mark a significant step toward regulatory approval. This new investment will enable expanded clinical operations, increased patient enrollment, and enhanced data collection to reinforce the promising results observed in earlier trials. To learn more about this exciting journey and stay updated on upcoming developments, please visit our website at www.cyranotherapeutics.com. With this funding, Cyrano Therapeutics is poised to transform the therapeutic landscape for individuals enduring chronic sensory loss, reaffirming its commitment to innovative healthcare solutions and improved patient outcomes.