Kriya Therapeutics has closed an oversubscribed Series D funding round, raising $320m, aimed at propelling its gene therapy pipeline targeting chronic diseases with significant unmet medical needs.

The investment round was jointly led by Premji Invest and Patient Square Capital, with contributions from a consortium of life sciences and technology investors, including Narya Capital, Peter Thiel, The T1D Fund: A Breakthrough T1D Venture and several long-standing backers.

The influx of capital is earmarked for the advancement of trials across various therapeutic domains and for bolstering Kriya's ongoing research and development (R&D) and manufacturing engine for the creation of new products.

Kriya's pipeline is focused on gene therapies that are administered directly to the affected areas for chronic conditions such as thyroid eye disease, geographic atrophy, trigeminal neuralgia, type 1 diabetes and metabolic-associated steatohepatitis (MASH).

According to the company, its pipeline leverages an integrated R&D and manufacturing framework, designed to set new benchmarks in gene therapy purity and cost-effectiveness.

Patient Square Capital managing partner Jim Momtazee stated: “We have been proud to support Kriya since Patient Square led the company’s Series B funding round in 2021 and have been impressed with the team’s vision and the platform’s scientific and commercial potential.” In conjunction with the Series D funding, Premji Invest healthcare and biotech investor Akshay Rai has been welcomed to Kriya's board of directors.

Rai stated: “Our investment thesis to co-lead Kriya’s Series D financing centred on the company’s advanced manufacturing platform, built to support the development and commercialisation of gene therapies for prevalent diseases in large markets.

“Manufacturing constraints have historically limited the evolution of the gene therapy field, and we believe that Kriya has solved these challenges by meticulously building its fully-integrated CMC engine — evidenced by its ability to advance in parallel several first-ever gene therapy candidates for multiple chronic diseases.”

The company previously raised $270m in a Series C funding round, which was led by Patient Square Capital to advance Kriya's fully integrated gene therapy engine.