Kriya Announces $270 Million Series C Financing to Advance Fully Integrated Gene Therapy Engine
REDWOOD CITY, Calif. and RESEARCH TRIANGLE PARK, N.C., — May 16, 2022 – Kriya Therapeutics, Inc., a fully integrated gene therapy company pioneering novel technologies and therapeutics, today announced a $270 Million Series C financing. The financing was led by Patient Square Capital, with participation from Bluebird Ventures, CAM Capital, Dexcel Pharma, Foresite Capital, JDRF T1D Fund, Lightswitch Capital, Narya Capital, QVT, Transhuman Capital, and other undisclosed investors. Proceeds from this financing will support the advancement of Kriya’s pipeline and continued scaling of its engineering, manufacturing, and computational platforms.
Kriya has established an ecosystem for delivering best-in-class technologies and medicines in gene therapy, with core business units in technology, manufacturing, R&D, and therapeutics. By leveraging its proprietary computational platform, in-house manufacturing infrastructure, and rational design toolkit, the company is uniquely positioned to bring potentially transformative gene therapies to a broad range of diseases.
“We believe gene therapy has the potential to redefine medicine over the next decade. However, the field has been constrained by technological and operational challenges that make it difficult and expensive to deliver new products,” said Shankar Ramaswamy, M.D., Co-Founder and Chief Executive Officer of Kriya. “Kriya was founded to address the primary problems limiting the field, and I am proud of the progress we have made to date. This financing will support our continued growth as we advance our diverse pipeline into the clinic and further scale our core platforms, to achieve our ultimate vision of expanding the reach and unlocking the full potential of gene therapy as a modality.”
In recent months, Kriya has achieved several milestones across key parts of its business. The company significantly expanded its pipeline through its internal R&D efforts, as well as through acquisitions and partnerships with leading companies and academic institutions. In addition, Kriya operationalized its state-of-the-art, scalable GMP manufacturing infrastructure in Research Triangle Park, North Carolina to support in-house production from early through late phase development. This infrastructure also empowers the development and implementation of novel technologies and processes that enable consistent, large-scale manufacturing. Kriya has also scaled SIRVE™, its machine learning-enabled technology and cloud computing architecture, to support the integration of large datasets generated by the company’s high throughput screening, next generation sequencing, and algorithmic data mining platforms.
“Kriya has made tremendous strides over the past few years, attracting world-class talent, expanding its pipeline, and scaling the infrastructure necessary to unlock the full potential of gene therapy,” said Jim Momtazee, Managing Partner of Patient Square Capital and Kriya Board Member. “We believe the company has the potential to be the clear leader in the evolving gene therapy field, consistent with Patient Square Capital’s focus to build and support category leading companies in health care.”
Kriya is a fully integrated gene therapy company on a mission to revolutionize how gene therapies are designed, developed, and manufactured – with a goal of improving speed to market and reducing cost. The company leverages its proprietary computational engine, in-house manufacturing infrastructure, and integrated design platform to engineer products with the potential to transform the treatment of a broad range of diseases. Kriya’s team includes scientific pioneers with decades of experience in product development, complex manufacturing, and computational engineering.
The company has established an ecosystem for delivering best-in-class technologies and medicines, with core business units in technology, manufacturing, R&D, and therapeutics. Kriya’s product pipeline addresses diseases of high unmet need with therapeutic area divisions in ophthalmology, oncology, rare disease, and chronic disease, each led by industry veterans with a track record of advancing products from concept through commercialization. Built upon this foundation, Kriya achieves the scale needed to drive transformational improvements in the engineering, production, and translation of gene therapies. For more information, please visit www.kriyatx.com and follow on LinkedIn.