RESEARCH TRIANGLE PARK – Therapeutic Kriya is set to revolutionize gene therapies for very serious diseases like diabetes and severe obesity after landing a whopping $ 100 million in capital.
This is in addition to the $ 80.5 million raised last year.
The biotech startup, headquartered in Durham and Palo Alto, has secured Series B funding from Patient Square Capital.
Existing institutional investors also participated in this round, including QVT, Dexcel Pharma, Foresite Capital, Bluebird Ventures, Transhuman Capital, Narya Capital, Amplo and JDRF T1D Fund. New investors included Woodline Partners LP, CAM Capital, Hongkou, Alumni Ventures and others.
The company said the proceeds from the funding would be used to “further develop Kriya’s core technology platforms, expand its therapeutic pipeline, and advance its current programs in the areas of metabolic diseases, ophthalmology and cancer. oncology”.
Triangle’s gene therapy startup secures $ 100 million in new funding
Meanwhile, Jim Momtazee, Managing Partner of Patient Square Capital, will join Kriya’s board of directors.
“In recent years, we have seen the promise of gene therapy become a reality for the treatment of a number of devastating diseases,” said Shankar Ramaswamy, MD, co-founder and CEO of Kriya.
However, the field has been limited by critical limitations in manufacturing technology, vector design capabilities, and costs. Kriya was formed with the mission to revolutionize the way gene therapies are designed, developed and produced by integrating fully advanced manufacturing technologies, calculation tools and development capabilities within a single company.
Founded in 2019, Kriya is the brainchild of Ramaswamy, former Commercial Director of Axovant Gene Therapies; Fraser Wright, co-founder of Sparks Therapeutics; and Roger Jeffs, the former CEO of United Therapeutics who has deep roots in North Carolina.
The company is currently developing its SIRVE (System for Intelligent Rational Vector Engineering) platform for de novo vector design, sequence modification and data analysis.
It is also developing STRIPE (System to Realize Improved Production Efficiency), a proprietary, high-efficiency manufacturing platform integrating advances in cell line technology and upstream and downstream processes to achieve exponential reductions in production costs at large scale.
STRIPE is developed at Kriya’s 51,000 square foot manufacturing facility in Research Triangle Park.
The company’s full cGMP manufacturing infrastructure is expected to be live this year.
(C) NC Biotechnology Center