Derived from the Tsyklon-3, it had a new third stage, a larger payload fairing, and a modernised flight control system compared to its predecessor.

Following a series of production delays, this launch date slipped, and was estimated to occur some time after 2015.

However, Brazil backed out of the partnership with Ukraine in 2015, citing concerns over the project budget, the ongoing financial situation in both countries, and the future of the commercial launch market.

The new rocket was originally scheduled to be in service by 2020,[6][7] though this date has been repeatedly pushed due to construction delays at the Canso launch site.

[8] According to a 2021 press release, the first flight of Cyclone-4M was planned to take place at Canso in 2023; however, it failed to eventuate.