– Kriya's therapeutic pipeline addresses a broad range of diseases that collectively affect millions of patients worldwide—with a goal of delivering transformational clinical benefits with one-time gene therapies –
– This financing brings the Company’s committed capital to over $600 million since its founding in 2019 –
PALO ALTO, Calif. and RESEARCH TRIANGLE PARK, N.C., July 26, 2023 (GLOBE NEWSWIRE) -- Kriya Therapeutics, Inc., a biopharmaceutical company developing gene therapies for conditions affecting millions of people around the world, today announced the addition of over $150 million in capital committed as part of its Series C Financing, bringing the total Series C round to over $430 million. Proceeds from the financing will support the clinical translation of Kriya’s broad pipeline of gene therapies and continued scaling of its engineering, computational and manufacturing platforms. Since its founding in October 2019, Kriya has raised over $600 million in committed capital —and with this financing, Kriya’s cash runway is anticipated to run into late 2026.
Kriya is developing a portfolio of transformational gene therapies focused on three main therapeutic areas: ophthalmology, neurology and metabolic disease. Within each therapeutic area, the Company has strategically focused on addressing prevalent diseases with significant unmet medical needs, validated biological targets, and well-defined clinical endpoints so that it may rapidly achieve proof-of-concept through accelerated translational development.
“We have an ambitious goal to advance gene therapies to highly prevalent diseases that affect millions of people around the world,” said Shankar Ramaswamy, M.D., Co-Founder and CEO of Kriya. “In order to make gene therapies a cornerstone of mainstream medicine, we have built a fully integrated engine to overcome industry-wide challenges that have constrained research, development and manufacturing in the field of gene therapy. 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."
Jim Momtazee, Managing Partner of Patient Square Capital, who led the Series C financing, added, "We are excited about the promise that gene therapy holds for the field, including its potential to usher in a new era of medicine—a future where gene therapy is not confined to a limited range of rare diseases but instead harnessed to address a wide array of medical conditions. Importantly, we believe in the approach that Kriya is taking to lead the way into this exciting future."
About Kriya Therapeutics
Our mission is to revolutionize medicine, with the ultimate goal of eliminating human suffering and enabling people to live without the burden of disease. Kriya is a biopharmaceutical company developing gene therapies to address diseases affecting millions of people around the world. With operations in Palo Alto, California and Research Triangle Park, North Carolina, Kriya has raised over $600 million in committed capital, which will be used to advance a broad pipeline of gene therapies for ophthalmology, neurology and metabolic disease. For more information, please visit www.kriyatx.com and follow us on LinkedIn and Twitter.
