What Lycia Therapeutics does

Lycia Therapeutics is a clinical-stage biotechnology company developing a proprietary platform of Lysosomal Targeting Chimeras (LYTACs) and CataLYTAC degraders for the targeted degradation of extracellular and membrane-bound proteins implicated in autoimmune and inflammatory diseases. Founded in 2019 by Versant Ventures and Nobel Laureate Carolyn Bertozzi, Ph.D. of Stanford University, the company has built a modular degradation platform in which a target-binding moiety is conjugated to a ligand for an internalizing receptor, shuttling the disease-driving protein to the lysosome for destruction. The CataLYTAC variant enables catalytic degradation, in which a single degrader molecule cycles repeatedly to eliminate multiple copies of a pathogenic protein. Lycia's lead programs include LCA-0061, a CataLYTAC targeting Immunoglobulin E (IgE) for food allergy, allergic asthma, and chronic spontaneous urticaria; LCA-0321, a LYTAC targeting TSHR autoantibodies for Graves' disease and thyroid eye disease; and LCA-0391, targeting MuSK autoantibodies for MuSK-positive Myasthenia Gravis.

Lycia operates a dual-track business model. Internally, it advances its own pipeline toward clinical proof-of-concept in autoimmune and inflammatory indications. Externally, it monetizes its platform through strategic pharmaceutical collaborations, exemplified by an August 2021 multi-target agreement with Eli Lilly covering up to five targets in immunology and pain, generating $35 million in upfront cash and eligibility for over $1.6 billion in development and commercial milestones plus tiered royalties. Eli Lilly also participates as an equity investor. Lycia has raised $301.6 million across four equity rounds (Series A $50M in 2020, Series B $70M in 2021, Series C $106.6M in 2024, and Series D $75M in 2026) led by Versant Ventures, Redmile Group, Venrock Healthcare Capital Partners, and Janus Henderson / Balyasny Asset Management, respectively. The company is headquartered in South San Francisco, California, employs 11–50 staff, and does not yet commercialize any product.

Lycia sells nothing directly to end markets today; its commercial channel is licensing and collaboration revenue from large pharmaceutical partners, complemented by future potential product commercialization if its internal pipeline advances to approval. Its go-to-market motion is enterprise business development with Big Pharma counterparties alongside a parallel proprietary clinical pipeline — a structure designed to validate the platform through Lilly-grade scrutiny while retaining upside in wholly owned assets.

Name

Lycia Therapeutics

Legal name

Lycia Therapeutics, Inc.

Website

https://lyciatx.com

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

11–50 employees

Short description

Lycia Therapeutics is a clinical-stage biotechnology company developing LYTAC and CataLYTAC degraders to eliminate disease-causing extracellular proteins for autoimmune and inflammatory diseases, founded by Nobel Laureate Carolyn Bertozzi and backed by Eli Lilly.

Ownership category

akta.pro rank

Product category

Targeted Protein Degradation Therapeutics

NAICS

Research and Development in Biotechnology (except Nanobiotechnology) (541714), Biological Product (except Diagnostic) Manufacturing (325414), Medicinal and Botanical Manufacturing (325411)

SIC

Biological Products, (No Disgnostic Substances) (2836), Pharmaceutical Preparations (2834), Medicinal Chemicals & Botanical Products (2833)

akta.pro primary industry

siRNA Therapeutics (gene silencing) (HLAAADAB)

akta.pro secondary industries

mRNA Therapeutics (vaccines, protein replacement, immuno-oncology) (HLAAADAA), RNA Chemistry & Oligonucleotide Engineering (backbones, modifications, stereochemistry) (HLAAADAE)

Keywords

• Targeted protein degradation
• Lysosomal targeting chimeras
• Extracellular protein degraders
• Autoimmune disease therapeutics
• Biopharmaceutical drug discovery

Headquarters

HQ city

South San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales

Revenue model

1. Licensing and Collaboration Revenue: Lycia enters strategic collaboration agreements with pharmaceutical companies where it receives upfront payments, milestone payments based on preclinical, development, and commercial achievements, and tiered royalties on product sales. The Lilly collaboration represents the primary example with $35M upfront and potential milestones exceeding $1.6B.
2. Future Product Commercialization: Lycia plans to develop and commercialize its own pipeline of LYTAC therapeutics for autoimmune and inflammatory diseases, pending successful clinical development of lead programs LCA-0061 and LCA-0321.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Lycia Therapeutics develops a proprietary LYTAC (Lysosomal Targeting Chimera) protein degradation platform that eliminates disease-causing extracellular and cell-surface proteins by shuttling them into the lysosome for destruction. The company is advancing a pipeline of preclinical LYTAC and CataLYTAC therapeutic candidates for autoimmune and inflammatory diseases, while licensing the platform to large pharmaceutical partners for additional targets in immunology and pain.

Product overview

Lycia Therapeutics is a clinical-stage biotechnology company developing a portfolio of LYTAC (Lysosomal Targeting Chimera) protein degradation therapeutics. The core LYTAC Platform enables targeted degradation of extracellular and membrane-bound proteins that drive autoimmune and inflammatory diseases. The company offers two main product types: standard LYTAC degraders and CataLYTAC Degraders, the latter providing catalytic protein degradation. The lead clinical candidates include LCA-0061 (a CataLYTAC targeting IgE for allergic diseases) and LCA-0321 (a LYTAC targeting TSHR autoantibodies for Graves' disease), with additional programs in discovery including LCA-0391 for MuSK-positive Myasthenia Gravis.

Differentiator

Problem solved

Functional benefit

Brands

• LYTAC Platform: Proprietary lysosomal targeting chimera platform for targeted degradation of extracellular and membrane-bound proteins
• CataLYTAC Degraders
• LCA-0061
• LCA-0321
• LCA-0391

Products and services

• LYTAC Platform Proprietary modular Lysosomal Targeting Chimera (LYTAC) platform that uses bifunctional molecules binding a target protein and an internalizing receptor to shuttle disease-causing extracellular and cell-surface proteins into the lysosome for degradation. Applicable across small molecule, peptide, antibody, and protein binding modalities and multiple internalizing receptors for tissue-specific targeting. Licensed in part to Eli Lilly under a 2021 collaboration covering up to 5 targets.
• CataLYTAC Degraders Next-generation LYTAC variant in which the degrader repeatedly cycles into and out of the cell to catalytically degrade multiple copies of a pathogenic protein per molecule. Designed for targets with rapid resynthesis or high plasma concentration, such as IgE.
• LCA-0061 CataLYTAC degrader that catalytically binds and eliminates Immunoglobulin E (IgE) for the treatment of IgE-mediated allergic diseases including food allergy, allergic asthma, and chronic spontaneous urticaria. Wholly owned by Lycia.
• LCA-0321 LYTAC degrader targeting thyroid-stimulating hormone receptor (TSHR) autoantibodies for the treatment of Graves' disease and its extrathyroidal manifestations including thyroid eye disease. Wholly owned by Lycia.
• LCA-0391 LYTAC degrader targeting muscle-specific kinase (MuSK) autoantibodies for the treatment of MuSK-positive Myasthenia Gravis. Wholly owned by Lycia.
• LYTAC Discovery and Development Collaboration with Eli Lilly Strategic research, development, and commercialization collaboration under which Eli Lilly funds preclinical and clinical development of up to 5 LYTAC targets and receives exclusive worldwide commercialization rights in exchange for upfront, milestone, and royalty payments to Lycia.

Quantifiable outcome

• Single dose of LCA-0061 resulted in rapid, durable and near-complete elimination of both total and free IgE in non-human primates, in contrast to omalizumab which only stabilizes IgE
• +1 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

One partnership is on record.

• Eli Lilly and CompanycoreStrategic or Co-development Partner · 25 August 2021Multi-year research collaboration and licensing agreement focused on discovery, development and commercialization of novel targeted therapeutics using Lycia's LYTAC platform. Targets up to 5 targets addressing unmet medical needs in Lilly's therapeutic areas of focus, including immunology and pain. Lycia received $35M upfront payment and is eligible for over $1.6B in potential milestone payments plus tiered royalties from mid-single to low double-digits on sales. Lilly is solely responsible for preclinical and clinical development and receives exclusive worldwide license to commercialize resulting products.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Avilar Therapeutics: Avilar Therapeutics is developing extracellular protein degraders (ATACs / ASGPR-based chimeras), the most direct technological parallel to Lycia's LYTAC platform. Both companies target secreted and cell-surface disease-driving proteins using receptor-mediated lysosomal degradation, making them the closest modality peers in the field.

Broad incumbents

• Arvinas: Arvinas is the pioneer and clinical-stage leader in targeted protein degradation (PROTAC platform) with multiple programs in oncology through partnerships with Pfizer and Bayer. While Arvinas targets intracellular proteins (versus Lycia's extracellular focus), it is the most established and well-capitalized peer in protein degradation therapeutics and validates the broader space.
• Kymera Therapeutics: Kymera is a clinical-stage biotech developing heterobifunctional protein degraders (PROTACs) with a strong immunology and inflammation pipeline (including Sanofi partnership). Comparability to Lycia stems from shared modality (targeted protein degradation) and overlapping therapeutic-area focus in immunology.
• Nurix Therapeutics: Nurix is a clinical-stage protein degradation company using DNA-encoded libraries and ligase-modulating chimeras (including DELTAC and DGTAC platforms). Comparable to Lycia as a protein degradation platform company with multiple partnered programs and clinical-stage assets.
• C4 Therapeutics: C4 Therapeutics is a clinical-stage degrader company developing cereblon-binding small molecules for targeted protein degradation, partnered with Biogen, Roche/Genentech, and others. Comparable as a clinical-stage protein degradation platform with multiple partnered programs across therapeutic areas.
• Monte Rosa Therapeutics: Monte Rosa develops molecular glue degraders (MGDs) for cancer and inflammatory diseases with a clinical-stage pipeline. Comparable to Lycia as a protein degradation platform company pursuing immunology and inflammation indications through a novel degrader modality.
• Foghorn Therapeutics: Foghorn Therapeutics is a clinical-stage biotech targeting chromatin regulatory proteins, including via its protein degradation platform. Adjacent to Lycia as a protein-degradation-platform-focused biotech with oncology and immunology pipelines.
• Genentech (Roche): Genentech is a large biopharmaceutical company developing diverse therapeutics including protein-based and antibody-based modalities. Comparable as a deep immunology pipeline and as the prior employer of multiple Lycia senior leaders; Roche/Genentech also has degradation-adjacent programs.
• NGM Biopharmaceuticals: NGM Biopharmaceuticals is a clinical-stage biotech developing biologics for cardio-metabolic and ophthalmologic diseases, with a notable focus on autoimmune/inflammatory biology. Comparable given shared leadership lineage (Lycia's CEO and VP Finance came from NGM) and overlapping focus on novel biologics for immune-mediated diseases.

Emerging players

• Allakos: Allakos is a clinical-stage immunology company developing therapeutics for allergic, inflammatory, and gastrointestinal diseases — directly overlapping Lycia's IgE/allergic disease and Graves' indications. While using a different modality (anti-Siglec antibodies), it shares therapeutic-area focus and even executive lineage (Lycia's CMO joined from Allakos).

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/lycia-therapeutics
• Xx.com/LyciaTx

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 records

Funding overview

Funding rounds4 records

Investors16 records

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M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Lycia Therapeutics