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§ Private Profile · Road Town, British Virgin Islands
Clinical-stage biotechnology company developing disease-modifying treatments and diagnostics for osteoarthritis and musculoskeletal.
Founded in 2006 by Gaetano Scuderi and based in Jupiter, Florida, Cytonics is a clinical-stage biotechnology company developing disease-modifying treatments and diagnostics for osteoarthritis and musculoskeletal diseases. The organization leverages Alpha-2-Macroglobulin, a natural protease inhibitor, to create medical products such as the FACT diagnostic test, the APIC therapy system, and its lead drug candidate CYT-108. Operating with a team of under 50 employees, the enterprise has treated over 8,000 patients with its APIC system and secured more than $25 million in total funding. Strategic partners include the NIH, which provided $1.8 million in research grants, alongside Johnson & Johnson Synthes, River VC, CAREstream America, and StartEngine. Led by President and CEO Joey Bose, the firm recently launched a $24 million Regulation A+ equity crowdfunding campaign to fund Phase 2 clinical trials for CYT-108.
Cytonic has raised $8.0M across 1 funding round.
Cytonic has raised $8.0M in total across 1 funding round.
Cytonic has raised $8.0M across 1 funding round. Most recently, it raised $8.0M Seed in November 2024.
Cytonic is a blockchain technology company developing the world's first multi-virtual-machine (multi-VM) Layer 1 blockchain, designed to integrate diverse networks like Bitcoin, Ethereum, and Solana into a unified solution for seamless interoperability.[1][2][3] It solves blockchain fragmentation by enabling EVM and SVM compatibility, allowing atomic cross-VM asset swaps, minimized transaction fees, reduced waiting times, and zero-code migration for dApps—making decentralized apps more accessible for users and developers.[1][2][4] Cytonic serves developers, DeFi protocols, and end-users across Web3 ecosystems, with strong early growth marked by an $8.3 million seed round in November 2024 co-led by Lattice and Lemniscap, plus backers like Arthur Hayes' Maelstrom and Nomura's Laser Digital.[1][2]
Developed by MultiVM Labs and based in the British Virgin Islands (registered 2024), Cytonic uses shared storage for parallelized execution of multiple VMs (initially EVM and SVM, expanding to MoveVM and CosmWASM), fostering a unified user experience akin to centralized exchanges while preserving decentralization.[2][3][4] Its testnet is live with initial EVM/SVM support, progressing toward mainnet beta, airdrops, and app launches.[3][4]
Cytonic emerged in 2024 from MultiVM Labs to address growing blockchain fragmentation, where incompatible chains like Ethereum and Solana create barriers for developers and users.[1][2][3] Founder Ivan Miskovic leads the effort, envisioning a bridge across blockchains to simplify asset storage and UX for any wallet on any chain.[1] The idea crystallized around optimistic parallelized execution on a single L1 with shared storage, enabling multi-VM processing without cross-chain vulnerabilities.[2]
Early traction hit with the November 7, 2024, seed raise of $8.3 million, drawing top crypto investors and validating its core innovation at a pivotal Web3 moment.[1][2] This funding fuels testnet rollout (Lightwave upgrade underway) and positions Cytonic for mainnet, humanizing its mission through Miskovic's focus on developer opportunities and user accessibility.[1][4]
(Note: Unrelated biotech firm "Cytonics" appears in results but is distinct.[5][6][7])
Cytonic rides the interoperability and chain unification trend amid Web3 fragmentation, where siloed VMs limit dApp potential and user adoption.[1][2][3] Timing is ideal post-2024 bull market, as multi-chain complexity demands solutions like Cytonic's unified L1—countering forces like high cross-chain fees and security risks while aligning with rollup-centric scaling (e.g., affordable blockspace via partners).[2][4]
It influences the ecosystem by enabling ecosystem-agnostic innovation, drawing liquidity to a neutral hub, promoting DeFi/RWA/memecoin diversity, and accelerating adoption through seamless Bitcoin/Ethereum/Solana integration.[1][3] As L1s compete, Cytonic's multi-VM model could reduce "app chain" sprawl, fostering collaboration in a maturing space.
Cytonic's seed momentum and testnet signal mainnet launch in 2025, with Lightwave upgrades unlocking unified UX, airdrops, and ecosystem apps—potentially capturing DeFi liquidity as multi-VM standards emerge.[3][4] Trends like AI-driven dev tools and enterprise DA will amplify its edge, evolving it from compatibility solver to Web3's "universal base layer." Influence may grow via tokenomics-driven validators and protocol migrations, bridging Cytonic's vision of prompt-built crypto projects back to its fragmentation-fighting origins.[1][4]
Cytonic has raised $8.0M in total across 1 funding round.
Cytonic's investors include Lattice, AirAngels, Andreessen Horowitz, Archetype, Audacity, Awesome People Ventures, Battery Ventures, Chapter One Ventures, CoinFund, Divergence Ventures, Electric Ant, Electric Capital.