Citryll Secures EUR 85 Million Series B Funding for Innovation
Oss, Netherlands – Citryll, a leading biotech firm, recently announced the successful closing of an oversubscribed Series B funding round, raising EUR 85 million. This investment is aimed at accelerating the development of its groundbreaking monoclonal antibody, CIT-013, specifically designed for the treatment of immune-mediated inflammatory diseases by targeting Neutrophil Extracellular Traps (NETs).
The Importance of NET-Targeting in Inflammatory Disorders
NETs are composed of DNA, histones, and proteins released by neutrophils to capture pathogens. However, an overproduction of these structures can lead to chronic inflammation and tissue damage in various conditions, such as rheumatoid arthritis (RA) and hidradenitis suppurativa (HS). By addressing this fundamental aspect of inflammation, Citryll's therapy holds the potential to create significant advancements in treatment outcomes for patients suffering from these debilitating disorders.
Key Investors and Their Role
The Series B funding round saw participation from prominent investors including Johnson & Johnson Innovation – JJDC, Inc., Forbion, and Novartis Venture Fund. Existing investors like BioGeneration Ventures, Seventure Partners, and BOM also contributed, highlighting a strong belief in Citryll's mission and potential. Geert-Jan Mulder, Managing Partner at Forbion, emphasized the potential of CIT-013 to fill significant gaps in the current treatment landscape for inflammatory disorders.
Advancements in Clinical Trials
Citryll has made remarkable strides in its clinical research, having completed successful Phase 1 trials which involved repeat dosing for RA patients. The next phase of clinical trials, known as Phase 2a, will include patients with RA and HS. These studies aim to validate CIT-013's dual mechanism: enhancing the clearance of existing NETs while inhibiting the formation of new ones. This unique approach could revolutionize how these conditions are treated.
Expanding Horizons Beyond Initial Targets
While the immediate focus for clinical trials is on RA and HS, Citryll's innovative NET-targeting technology could potentially benefit a broader array of immune-mediated inflammatory diseases, showcasing the adaptability and forward-thinking nature of the company's research.
Leadership Perspectives on Funding Impact
Eduardo Bravo, Chief Executive Officer of Citryll, expressed enthusiasm about the funding secured from a diverse group of global investors who recognize the promise of CIT-013. He underscored the efforts of the team, including the founders Renato Chirivi, Helmuth van Es, and the late Jos Raats, in developing this novel therapy aimed at conditions where existing treatments fall short. This support underscores Citryll's strong position as it moves forward with its clinical development program, providing hope for patients encountering inadequate disease management.
About Citryll
Citryll is redefining treatment strategies for immune-mediated inflammatory diseases through its innovative focus on NETs. The company is committed to bringing forth the first NET-targeting therapy, which could lead to a new class of immunotherapies with broad applications. CIT-013's development reflects a commitment to leveraging a dual action strategy, resembling a comprehensive solution to combat conditions like RA and HS where current therapies often leave patients wanting.
Frequently Asked Questions
What is CIT-013?
CIT-013 is a monoclonal antibody developed by Citryll that targets Neutrophil Extracellular Traps (NETs), aiming to treat immune-mediated inflammatory diseases.
How much funding has Citryll raised in this round?
Citryll has successfully closed an oversubscribed Series B funding round, raising a total of EUR 85 million.
What are Neutrophil Extracellular Traps (NETs)?
NETs are structures released by neutrophils composed of DNA and proteins designed to capture pathogens. They play a role in the inflammatory process but can also contribute to tissue damage if overproduced.
What are the future plans for Citryll’s clinical trials?
Citryll plans to move into Phase 2a clinical trials focusing on rheumatoid arthritis and hidradenitis suppurativa to further validate CIT-013's efficacy.
What impact does this funding have on Citryll's projects?
This funding will enable Citryll to push forward with the clinical development of CIT-013 and broaden its research efforts in the field of immune-mediated inflammatory diseases.
