Gene Therapy Startup Kriya Raises $313 Mn in Equity Financing

This follows a $270 million series C fundraise in 2022, which was later expanded with a $150 million extension in July 2023, bringing the total to $430 million.

Gene therapy biotech Kriya Therapeutics has raised $313 million through a new equity financing, according to a Securities and Exchange Commission filing. The private U.S.-based company disclosed the funding on August 15.

The raise is among the largest private biotech financings this year, behind Verdiva Bio’s $410 million launch, MapLight Therapeutics’ $372 million series D, and Eikon Therapeutics’ $350 million series D.

Kriya reports a pipeline of nine programs across neurology, metabolic health, and ophthalmology, with two assets currently in clinical development. The company has not yet disclosed how the newly raised capital will be deployed.

This follows a $270 million series C fundraise in 2022, which was later expanded with a $150 million extension in July 2023, bringing the total to $430 million.

During the same period, Kriya acquired Redpin Therapeutics and Tramontane Therapeutics, adding epilepsy and trigeminal neuralgia candidates from Redpin and a metabolic dysfunction-associated steatohepatitis program from Tramontane.

“We have an ambitious goal to advance gene therapies to highly prevalent diseases that affect millions of people around the world,” Kriya co-founder and CEO Shankar Ramaswamy, M.D., said in a 2023 fundraising release. “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.”

The financing comes as gene therapy companies continue to face shifting investor sentiment after a difficult year for the sector.

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