Cycuria: Biotech startup from Graz is developing a targeted cancer therapy

The company Cycuria TherapeuticsCycuria Therapeutics () was established in Graz in June 2024 by scientists working at the Medical University of Graz, the Munich University of Technology and the University of Heidelberg. The pre-clinical oncological startup focuses on the early phase of drug development in the fight against cancer. It is developing a new type of protein-based, targeted therapy for so-called haematological cancers affecting the haematopoietic system. The therapy is designed to selectively eliminate tumours and their progenitor stem cells while preserving the equilibrium of normal bodily functions (physiology). 

Interview with Nisit Khandelwal, CEO and Co-Founder of Cycuria Therapeutics 

Why did you set up Cycuria in Austria? 

Austria offers a favourable financing environment for biotech startups based on strong public funding programmes. These make crucial capital available in the initial stages without equity dilution. In this way, we can establish business operations fresh out of the academic environment and concentrate on developing innovations over the long term.  

The company is located on the campus of the Medical Science City Graz, promoting the close collaboration between science, industry, and clinical research. We benefit from modern incubators, leading research facilities, clinical partnerships, and an established biobank for translational research i.e., research transforming scientific discoveries into clinical applications.  

The cooperation with the laboratory of our scientific founder Prof. Dr. Philipp Jost strengthens our scientific foundation and accelerates the development of new therapies. Austria’s excellent infrastructure, a highly qualified pool of talents and public funding make the business location attractive to biotech companies.  

We see enormous potential for Austria to strengthen its position as a life sciences hub by attracting more risk capital. Austria can play a leading role in European biotechnology with the support from both the public and private sectors as well as access to specialized knowledge. Cycuria is pleased to be a part of the growing ecosystem.  

Which challenges must be mastered? And how has ABA supported you in this? 

The biggest challenge for startups in the field of life sciences continues to be gaining access to growth capital. There are few examples in Austria for oncological startups and a limited pool of risk capital funds. It is true that the situation is changing, but government initiatives are still required. Moreover, cultural change is necessary to enhance the willingness of innovators and investors to take risks. This mentality will be decisive to enable the conversion of transformative ideas into groundbreaking medicines.  

The ABA team has provided outstanding support to us since the very beginning. It has offered us valuable opportunities to appear at important international conferences and initiatives. In turn, this helps us to present our story to a broader audience.  

Let us look into the future. Do you plan to expand? 

In any case, we want to move our flagship programme to the next phase of our development over the next 12-18 months with the help of a successful round of financing. For this purpose, we would be expanding our team to encompass expertise in pre-clinical development, production, regulatory affairs, and clinical strategy.  

And finally, what do you particularly value about Austria? 

What I personally value the most about Austria is the collaborative and innovation-driven way of thinking throughout the entire life sciences ecosystem. I come from the biotech scene in Munich and have been impressed with the level of inventiveness at our facility in Graz. We successfully set up a company, built up a team, secured non-dilutive financing, lured private investors, integrated leading scientific and corporate advisors, and even won the SPIRIT startup award, all within a period of just six months.   

This success would not have been possible without the support of university management teams, funding organisations and life sciences clusters which all have a shared passion for scientific breakthroughs. The willingness of stakeholders to work together and promote innovation is remarkable and makes Austria an attractive location for biotech startups. 

Read more about the industry here: Life Sciences in AustriaLife Sciences in Austria ()