CFO Services Case Study
Cyteir Therapeutics
Credibility, clarity, and IPO-level rigor; TechCXO helped Cyteir go from clinical-stage to Nasdaq-debut.
“TechCXO helped to transform the company’s financial operations from start-up to public company, which prepared us well for our IPO.”
— Markus Renschler, MD, President and CEO, Cyteir Therapeutics
Overview
Cyteir Therapeutics is a clinical-stage biotech company developing synthetically lethal therapies for cancer using an advanced scientific approach targeting the DNA damage response. As the company prepared to transition from a venture-backed startup to a public entity, it faced the dual challenge of scaling finance operations and presenting a compelling financial narrative to investors.
They needed a fractional CFO who could bridge the gap between early-stage hustle and IPO-level scrutiny, bringing senior expertise without the full-time cost. Enter TechCXO.
Challenges
Cyteir needed:
- Experienced financial leadership to support the company through the complexities of late-stage biotech growth
- Fully built-out finance and accounting operations capable of withstanding public company due diligence
- Credibility with the Board, investors, and underwriters preparing for an initial public offering
For a company on the cusp of going public, there was no room for missteps. Cyteir had to get it right, right away.
Goals
Preparing and positioning for a confident move from private to public meant Cyteir had to:
- Establish investor-grade financial operations and controls
- Support ongoing fundraising efforts leading up to the IPO
- Develop board-ready reporting and investor-facing communications
Solutions
Cyteir engaged TechCXO to provide both fractional CFO leadership and full finance execution support. TechCXO Managing Partner Chris Thomajan became a strategic advisor to the CEO and Board, while also leading all finance and accounting operations.
Together, they:
- Built and managed investor-grade financial infrastructure to support growth and scrutiny
- Led financial modeling and scenario planning across multiple fundraising rounds
- Developed public company readiness strategies and supported SEC filing preparation
- Provided board and investor relations support through each financing milestone
As fractional CFO, Chris Thomajan led Cyteir’s financial transformation from startup to IPO, delivering discipline, transparency, and credibility at every stage.
Managing Partner, Fractional CFO
Chris served as Cyteir’s lead finance partner, guiding the company through private financings and its eventual $133M public offering in June 2021.
Outcome
Cyteir successfully closed its initial public offering in June 2021, raising $133.2 million and achieving a market capitalization exceeding $600 million.
The IPO marked the culmination of years of disciplined financial strategy, operational leadership, and effective investor engagement, all supported by TechCXO.
Growth stage
TechCXO delivered the finance leadership and infrastructure needed to support Cyteir’s rapid growth and prepare for public market scrutiny.
Main stage
With a credible financial story and investor-ready systems in place, Cyteir made a successful public debut on Nasdaq, raising over $133 million and achieving breakout visibility.
“Chris joined us at a crucial time in Cyteir’s development. He and TechCXO helped to transform the company’s financial operations from start-up to public company, which prepared us well for our recent IPO (June 2021). In addition, Chris became a trusted partner and integral member of the leadership team, providing thoughtful advice based on years of experience in building biotech companies. Chris interacted with our Board of Directors and investors on a regular basis and played a key role with our fundraising strategy up to and including the IPO.”
- Markus Renschler MD, President and CEO, Cyteir Therapeutics
