Kriya Therapeutics has added $150m as part of a Series C funding round, bringing to a total of over $430m to fuel the company’s drug development efforts.
This marks the fourth announcement of raised capital in the last three years, amassing more than $600m since Kriya’s founding in 2019.
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The California-headquartered company previously announced a $270m Series C financing round led by investors from Patient Square Capital in May 2022. The company raised $80m in a Series A round in May 2020 and $100m in Series B.
The company now aims to move its undisclosed gene therapies into the clinic alongside the further scaling of its computational, engineering and manufacturing platforms, per the 26 July press release.
CEO Shankar Ramaswamy in the announcement: “Our investments in world-class infrastructure and talent have supported our ability to move with unprecedented efficiency in the engineering and production of gene therapies—and we look forward to the next chapter of our company’s evolution as we translate our programs into the clinic where they can hopefully help patients in desperate need of better treatment options.”
The company’s gene therapies focus on treating metabolic, neurological, and ophthalmological conditions. In the metabolic disorders pipeline, the company is developing therapies for diabetes and glycogen storage diseases, while the neurological diseases programme includes a candidate for epilepsy. Last November, Kriya acquired the biotech firm Redpin Therapeutics, which formed the basis of the company’s neurological gene therapy portfolio.
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By GlobalDataKriya’s ophthalmological gene therapies are aimed at treating diabetic retinopathy, geographic atrophy, and non-infectious uveitis.
While the company has yet to disclose its treatments, it presented ten abstracts at the 2023 American Society of Gene and Cell Therapy Annual Meeting in May. There, the company detailed its technology and manufacturing platforms.
Shankar Ramaswamy previously worked at Axovant Gene Therapies and Roivant Sciences. These healthcare companies were founded by his older brother Vivek Ramaswamy, who is currently running as a candidate in the 2024 Republican party presidential primaries.
Cell & Gene Therapy Coverage on Pharmaceutical Technology supported by Cytiva.
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