Our current strategic focus is centered on the development of a novel therapeutic approach for neuropsychiatric conditions, with the lead indication being treatment-resistant depression (“TRD”), which we believe represents a substantial clinical and commercial opportunity.
Estimated readout windows: registry primary-completion date + 6-12 weeks. Windows already open are shown from "Now". Drug names link to ClinicalTrials.gov.
Preclinical · ActiveModality: anesthetic-based individualized therapy with technology-enabled drug delivery
Partnerships MIT: exclusive worldwide license (Sep 2025); up to $4.4M milestones; low single-digit royalties. Medsteer SAS: collaboration/option-to-license for anesthesia delivery tech (Jan 2026); up to $3.7M milestones; low single-digit royalties
Indications
Treatment-resistant depression (TRD)(Preclinical)
Status note Foundational TRD development program. FDA confirmed CYC-126 will be regulated under CDER (Feb 2026), guiding planned IND submission. Program advancement suspended due to cash limitations (per filing); not discontinued.
Partnerships Akebia Therapeutics: exclusive license (Jun 2021, amended Dec 2024); $1M milestone received Feb 2026 on Phase 2 initiation; up to ~$557.5M additional milestones; tiered royalties mid-single digits to 20%
Status note Out-licensed to Akebia; Akebia dosed first patient in Phase 2 in FSGS Jan 2026. Cyclerion no longer internally pursuing sGC R&D.
olinciguat
Phase 2 · ActiveModality: oral sGC stimulator
Target soluble guanylate cyclase (sGC)
Indications
not disclosed(Phase 2)
Status note Retained legacy vascular sGC stimulator; prior option-to-license agreement terminated Oct 2025; company exploring potential license opportunities.
Per-asset detail extracted from the 10-Q filed 2026-08-04. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.
No lead program on file for this company.
No active ClinicalTrials.gov trials matched to this company as sponsor or collaborator.
Specialist fund holders
Tracked specialist funds: ADAR1 Capital Management, Aisling Capital, Ally Bridge Group, Avoro Capital Advisors, BVF Partners, Baker Bros. Advisors, Boxer Capital, Braidwell LP, Casdin Capital, Cormorant Asset Management, DAFNA Capital, Deerfield Management, EcoR1 Capital, Frazier Life Sciences, Great Point Partners, Ikarian Capital, Logos Global Management, OrbiMed Advisors, Perceptive Advisors, RA Capital Management, RTW Investments, Sphera Biotech, Stonepine Capital, Tang Capital Partners, Vivo Capital.
None of the tracked specialist funds reported a position in the latest 13F snapshot.
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