Kriya Therapeutics, Inc. (“Kriya”), a clinical-stage biopharmaceutical company developing gene therapies to address common chronic diseases of high unmet need, today announced the closing of a $320 million Series D financing. The round was co-led by Patient Square Capital and Premji Invest, with participation from other leading life sciences and technology-focused investors including Peter Thiel, Narya Capital, The T1D Fund: A Breakthrough T1D Venture, LLC and other long- term investors. The round was oversubscribed and completed at a significant step up to the previous round of financing. Akshay Rai from Premji Invest has joined Kriya’s Board of Directors in conjunction with this financing.
Proceeds from this financing will support clinical trials of Kriya’s gene therapies in multiple therapeutic areas, as well as the continued utilization of the Company’s research and manufacturing engine for new product development. Kriya’s pipeline includes focally delivered gene therapies for chronic diseases, including Geographic Atrophy, Thyroid Eye Disease, Type 1 Diabetes, Metabolic Associated Steatohepatitis (MASH) and Trigeminal Neuralgia. The Company’s pipeline is supported by its industry-leading integrated manufacturing and R&D engine dedicated to establishing new standards of excellence for gene therapy purity, scale and production cost.
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“Our investment thesis to co-lead Kriya’s Series D financing centered on the company’s advanced manufacturing platform, built to support the development and commercialization of gene therapies for prevalent diseases in large markets,” said Akshay Rai, Healthcare and Biotech Investor at Premji Invest. “Manufacturing constraints have historically limited the evolution of the gene therapy field, and we believe that Kriya has solved these challenges by meticulously building its fully-integrated CMC engine—evidenced by its ability to advance in parallel several first-ever gene therapy candidates for multiple chronic diseases.”
Jim Momtazee, Managing Partner of Patient Square Capital, added, “We have been proud to support Kriya since Patient Square led the company’s Series B funding round in 2021 and have been impressed with the team’s vision and the platform’s scientific and commercial potential. This financing marks an important inflection point as the company advances its clinical programs, and we are excited to continue working with the team to move those programs forward.”
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