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Syros Pharmaceuticals, a company that aims to revolutionize the treatment of cancer and other diseases, announced today it has raised $30 million in financing from Flagship Ventures and ARCH Venture Partners.

This is the company’s first round of institutional funding, making the $30 million figure even more remarkable.

The capital will be used to fast-track discovery and development of gene control medicines.

The life sciences company is developing breakthroughs in gene control. The company identifies master switches for disease genes, opening a new approach to novel therapeutics, according to an emailed company statement.

“Discovery of the switches for genes critical in disease opens a completely new approach to helping people with serious illnesses such as cancer,” Dr. Simonian said in a statement.

Syros Pharmaceuticals integrates gene control research and drug discovery with disease biology and genomic data. Its initial focus is on cancer, but the platform will be applicable to other areas in the future.

Cofounded by pioneers in gene control research, Syros has named biotechnology and pharmaceutical leader Nancy Simonian, M.D., as its CEO. Simonian previously oversaw the development of drugs to treat multiple sclerosis, multiple myeloma, and mantle cell lymphoma.

Syros Pharmaceuticals is based in Watertown, Mass., and is working to establish partnerships with other companies working to disrupt oncology and other therapeutic areas.

Image credit: geneticdesigns/Flickr

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