Funding profile · Regenerative medicine manufacturing

Cytera CellWorks, now Mytos

One Form D on file, for $18,003,172 sold to 93 investors, filed eight weeks before the company announced a $19 million Series A. The UK subsidiary’s accounts fill in most of what the filing leaves out.

$18.0MSold under the October 2023 Form D, of $18,008,172 offered
93Investors in that offering, average about $193,583
£3.95MLoss at Mytos Bio Limited in 2025, after £3.73M in 2024
£1.07MCash at the UK subsidiary on Dec 31, 2025, down from £2.31M

Data as of September 22, 2026. Company-reported figures are labeled.

Rounds at a glance

When Round Amount Investors Source
2018 Y Combinator, Summer 2018 Not disclosed Y Combinator YC data
Mar 2020 to Mar 2021 Innovate UK grant, project 105852 £383,068 grant offer Innovate UK, with Orchard Therapeutics (Europe) UKRI record
Jun to Aug 2022 SPV: Mytos a series of TBD Angels Master LLC $115,540 14 investors, $2,500 minimum Form D
Sep to Oct 2023 Equity offering by Mytos, Inc. $18,003,172 sold of $18,008,172 93 investors Form D
Nov 30, 2023 Series A, as announced $19M Buckley Ventures (lead), IQ Capital, Wing VC Company release
Sep 2022 onward Innovate UK loan, secured £1,164,194 owed at Dec 31, 2025 Innovate UK Loans Limited Companies House
During 2024 Intercompany loan converted to equity £6,699,387 Mytos, Inc. Companies House
Dec 2025 Share allotment at the UK subsidiary £2,496,114 added to share premium Mytos, Inc. Companies House
To date Total raised, as the company states it Over $24M Named as founders of Wayve, Dropbox, Segment and Mercury, plus execs from Sana, BMS and Revolut Company-stated

What the filings show

Mytos, Inc. · Form D · filed Oct 5, 2023

First sale
Sep 20, 2023
Offered
$18,008,172 equity
Sold
$18,003,172 · $5,000 remaining
Investors
93 · average about $193,583
Exemption
Rule 506(b)
Related persons
Ali Afshar (executive officer, director); Ignacio Willats (director)
Issuer address
35111 Newark Blvd, Newark, California · Delaware corporation
Filing
SEC EDGAR, CIK 0001995930

Mytos a series of TBD Angels Master LLC · Form D · filed Aug 5, 2022

First sale
Jun 21, 2022
Type
Pooled investment fund (single-company SPV)
Sold
$115,540 of $115,540
Investors
14 · average about $8,253 · $2,500 minimum
Exemptions
Rule 506(b); Investment Company Act 3(c)(1)
Related persons
TBD Angels Master LLC, promoter and manager of the issuer
Filing
SEC EDGAR, CIK 0001936750

Reading the filings

  1. The filing landed before the announcement, and $1M short of it.First sale Sep 20, 2023; Form D filed Oct 5; press release Nov 30 calling it $19M. The filed figure is $18,003,172. No amendment has been filed to close the $996,828 gap, so either the last tranche sold after the notice or the round was rounded up in the telling.
  2. 93 investors is a crowd, not a syndicate.$18,003,172 across 93 names averages about $193,583. A $19M round led by one fund would normally show single digit investor counts. The company’s own description of its backers, operators and founders of other startups rather than funds, is what a register that wide looks like.
  3. The angels arrived first, through a vehicle.In June 2022, fifteen months before the priced round, a TBD Angels series raised $115,540 from 14 people at a $2,500 minimum, about $8,253 each. That is an angel syndicate taking a small position ahead of the institutional money.
  4. Almost nothing was left on the table.$18,008,172 offered against $18,003,172 sold leaves $5,000 unsold, which is a rounding artifact rather than a shortfall. The offering was effectively fully subscribed at filing.
  5. The UK entity is a funded cost centre, and the funding is visible.Mytos Bio Limited is wholly owned by Mytos, Inc. Its accounts record a £6,699,387 intercompany loan converted to equity during 2024 and £2,496,114 of new shares in December 2025. Share premium stands at £15,731,228 against accumulated losses of £15,337,878.
  6. There is a secured lender ahead of the equity.Innovate UK Loans Limited holds a fixed and floating charge created Sep 5, 2022 and still outstanding. £1,164,194 was owed at Dec 31, 2025, repayable over three years from December 2024.
  7. Cash at the UK entity more than halved while the loss grew.£2,306,413 to £1,074,775 over 2025, against a loss of £3,946,194. Average headcount fell from 30 to 27. The parent balance sheet is not public, so this is one leg of the group, not the whole of it.

Commercial signals

Signal Detail Source type
Billing Trade debtors at the UK entity rose from £53,881 to £584,319 during 2025; accruals and deferred income from £99,223 to £1,215,725. No turnover figure is filed. Public record
Customers Aspen Neuroscience (Jan 2025), StemSight, Rinri Therapeutics, Novadip (Sep 2025), Pluristyx (Dec 2025). No contract values disclosed. Company and partner stated
Business model Shifted from selling instruments to running an automated CDMO at CGT Catapult, Stevenage, in October 2025. Clinical readiness targeted September 2026. Company-stated
Intellectual property US12221600B2 granted Feb 11, 2025, assignee Mytos Bio Limited, plus one published application. Public record
Regulatory No FDA 510(k) or PMA, no registered trial, no PubMed record under either name. None on file

What to watch

  • A Form D after October 2023. The last one is nearly three years old and the UK entity has been issuing shares to its parent since.
  • Whether the Stevenage site reaches the September 2026 clinical readiness date.
  • The 2026 accounts for Mytos Bio Limited, due by September 30, 2027.
  • Repayment of the Innovate UK loan, which runs three years from December 2024.
  • Any disclosed contract value from a named partner.

The Cytera CellWorks story on Healthcare DiscoveryHealthcare Discovery

Related companies

  • Lygos: Shared investor: Precursor. A Berkeley Lab spinout that taught yeast to make malonic acid without cyanide, then became a specialty chemicals supplier whose polymers end up in shampoo, diapers and
  • dNovo: Shared investor: Precursor. A Stanford trained biologist's direct reprogramming system once grew human hair on the backs of lab mice
  • Dorian Therapeutics: Shared investor: Precursor. A Stanford spinout that built small molecule blockers of USP16, the enzyme that strips a silencing mark off histone H2A, and pointed them at the arthritic knee
  • Persist AI: Shared investor: M Series A Fund. A robotic laboratory in West Sacramento that builds and tests long acting injectable formulations by the hundred, rented to drug companies through a web browser

Sources

  1. Public recordForm D, Mytos, Inc., CIK 0001995930SEC · Oct 5, 2023
  2. Public recordForm D, Mytos a series of TBD Angels Master LLC, CIK 0001936750SEC · Aug 5, 2022
  3. Public recordFull accounts to 31 December 2025, Mytos Bio LimitedCompanies House · Aug 26, 2026
  4. Public recordFull accounts to 31 December 2024, Mytos Bio LimitedCompanies House · Jul 17, 2025
  5. Public recordCharges and filing history, company 09957823Companies House · Sep 22, 2026
  6. Public recordInnovate UK project 105852UKRI Gateway to Research · 2020 to 2021
  7. Public recordUS12221600B2 and US20230087656A1Google Patents · Feb 11, 2025
  8. Independent$19M Series A Funding for MytosLab Horizons · Dec 19, 2023
  9. IndependentMytos inks multiple cell therapy manufacturing partnershipsLongevity.Technology · Sep 3, 2025
  10. CompanyMytos Announces $19M Series A FundingBusiness Wire · Nov 30, 2023
  11. CompanyMytos Launches Automated CDMOBusiness Wire · Oct 6, 2025
  12. CompanyMytos about page, total raised and backersmytos.bio · Sep 22, 2026

Compiled from SEC, Companies House, UKRI and patent records and published reports as of September 22, 2026. Form D notices report offerings under Regulation D; amounts reflect the filing date and may not capture later sales. Mytos Bio Limited accounts cover the UK subsidiary only, not the Delaware parent or the group. Healthcare Venture Capital Fund holds no position in Mytos. This page is not an offer to sell or a recommendation to buy any security.