Cyrus Biotechnology, a Seattle-based software-enabled biotechnology startup focused on autoimmune diseases, announced it will be spinning out a new for-profit subsidiary named, Levitate Bio. The new spinout will help Cyrus Biotechnology expand its platform to the larger biopharma industry with potential applications in synthetic biology, manufacturing and research.
The new spinout will be owned by Rosetta Commons Science, a multi-institution collaboration that developed the Rosetta biomolecular modeling suite.
In a news release, Jeff Gray, the Director of the Board at Rosetta Commons and a board member at the Rossetta Commons Foundation, “We are excited to build a for-profit organization to bridge the gap between academic and tech industry innovation and applied drug discovery that can make a difference in patients’ lives.”