Funding news · Sep 16, 2026
Circle Pharma Raises $92.5M Series C+ Led by The Column Group
Circle Pharma Raises $92.5M Series C+ Led by The Column Group
Circle Pharma, a clinical-stage biopharmaceutical company based in South San Francisco, California, has raised $92.5 million in Series C+ funding. The round was led by The Column Group.
Additional participants in the round include Nextech Invest, RA Capital Management, Euclidean Capital, and Eli Lilly and Company.
What Circle Pharma Does
Circle Pharma develops targeted macrocycle therapeutics for cancer. Its proprietary MXMO platform combines structure-based rational drug design with advanced synthetic chemistry to create intrinsically cell-permeable, orally bioavailable macrocycles directed at historically undruggable targets.
The company's pipeline is focused on cyclins — key regulators of the cell cycle that drive many cancers.
Pipeline Overview
- CID-078 — an oral cyclin A/B RxL inhibitor. It is currently in a Phase 1 trial in advanced solid tumors with RB1 alterations.
- CID-165 — a cyclin D1 RxL inhibitor. It is expected to enter clinical development in early 2027 for ER-positive breast cancer.
Deal Context
The Series C+ designation indicates a follow-on to the company's prior Series C financing, bringing additional capital as its lead program continues through early clinical development and its second program advances toward the clinic.
The presence of Eli Lilly and Company among the investors, alongside a specialist life-sciences lead in The Column Group and a syndicate that includes Nextech Invest, RA Capital Management, and Euclidean Capital, reflects continued institutional backing of the company's macrocycle approach.
Why It Matters for Acquisition Watchers
Circle Pharma sits at the intersection of two areas of sustained strategic interest for larger biopharma buyers: oral small-molecule approaches to targets that have historically resisted drug development, and cell-cycle biology in oncology.
Key considerations for anyone tracking the company as a potential acquisition target:
- Platform differentiation. The MXMO platform is positioned around intrinsic cell permeability and oral bioavailability — properties that, if validated clinically, could extend the company's reach beyond its current cyclin programs.
- Clinical-stage assets. CID-078 is already in Phase 1, giving the company a readout-generating asset rather than a purely preclinical pipeline.
- Near-term catalyst. CID-165 is expected to enter clinical development in early 2027, which would give the company two clinical-stage programs.
- Strategic investor involvement. Eli Lilly and Company's participation is notable given the company's oncology footprint.
Summary
| Item | Detail |
|---|---|
| Company | Circle Pharma |
| Headquarters | South San Francisco, California |
| Round | Series C+ |
| Amount | $92.5 million |
| Lead Investor | The Column Group |
| Other Investors | Nextech Invest, RA Capital Management, Euclidean Capital, Eli Lilly and Company |
| Lead Program | CID-078 (oral cyclin A/B RxL inhibitor), Phase 1 |
| Second Program | CID-165 (cyclin D1 RxL inhibitor), expected clinical entry early 2027 |
Circle Pharma's raise adds to its balance sheet as it pursues clinical milestones across its cyclin-focused pipeline.