Citryll Raises EUR 85 Million Series B To Advance Novel NET-Targeting Therapy For Immune-Mediated Inflammatory Disorders

(MENAFN- GlobeNewsWire - Nasdaq) CITRYLL RAISES EUR 85 MILLION SERIES B TO ADVANCE novel NET-TARGETING THERAPY FOR IMMUNE-MEDIATED INFLAMMATORY DISORDERS

Financing co-led by Johnson & Johnson Innovation – JJDC, Inc., Forbion and Novartis Venture Fund

Lead first-in-class product candidate, monoclonal antibody CIT-013, to be advanced into two Phase 2a studies

Oss, Netherlands – 09 December 2024 – Citryll, a biotech company pioneering a transformative approach to treating immune-mediated inflammatory diseases by targeting Neutrophil Extracellular Traps (NETs), announces today the successful closing of an oversubscribed EUR 85 million Series B fundraise.

The funding round was co-led by Johnson & Johnson (through its corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc.), Forbion and Novartis Venture Fund, with the participation of Pureos Bioventures, alongside existing investors BioGeneration Ventures, Seventure Partners, BOM, Curie Capital, and Citryll's founders. The funding will enable next steps for the clinical development of CIT-013, a first-in-class monoclonal antibody which targets Neutrophil Extracellular Traps (NETs), a fundamental component of the inflammatory process that has yet to be addressed therapeutically. NETs are web-like structures composed of DNA, histones, and antimicrobial proteins, released by neutrophils to trap and degrade pathogens. Excessive NET formation can contribute to tissue damage and chronic inflammation in various immune-mediated inflammatory disorders.

Citryll recently completed its first-in-human Phase 1 trials including successful repeat dosing of rheumatoid arthritis (RA) patients. Phase 2a trials are planned in both RA and hidradenitis suppurativa (HS), intended to establish CIT-013's unique dual mechanism of action, which enhances the clearance of existing NETs and inhibits the formation of new NETs. CIT-013 is highly selective for its epitope, minimizing off-target effects, and does not enter cells, preserving normal intracellular functions. While initially focusing on RA and HS, Citryll's NET-targeting approach has potential applications across a wide range of immune-mediated inflammatory diseases.

Following this Series B round, Geert-Jan Mulder, Managing Partner at Forbion, Florian Muellershausen, Managing Director at Novartis Venture Fund, and a representative of JJDC, will join Citryll's Board as non-executive directors.

Geert-Jan Mulder, Managing Partner at Forbion, said: “Citryll's progress highlights the potential of a novel NET-targeting therapy to address significant unmet needs in inflammatory disorders, offering hope for conditions like rheumatoid arthritis and hidradenitis suppurativa, where many patients lack adequate disease control. Together with new and existing investors we are proud to support the outstanding team to further advance this truly differentiated program into clinical development for inflammatory disorders.”

Eduardo Bravo, Chief Executive Officer of Citryll, commented: “Securing funding from such a fantastic range of global life sciences investors, who share our excitement for the potential of CIT-013, strengthens the next steps for our clinical development program. We believe our NET-targeting approach, developed by the company founders Renato Chirivi, Helmuth van Es, and the late Jos Raats, has the potential to be beneficial in conditions where current therapies fall short. As we move forward with our clinical trials, we're excited about the possibility of providing a more effective treatment option for patients who have long struggled with inadequate disease control.”

-ENDS-

About Citryll

Citryll is pioneering a transformative approach to treating inflammatory diseases by targeting Neutrophil Extracellular Traps (NETs), a fundamental component of the inflammatory process that has yet to be addressed therapeutically.

Citryll is developing the first NET-targeting therapy, and potentially creating a new class of therapeutics with broad applications across immune-mediated inflammatory diseases.

Our lead asset, CIT-013, is a first-in-class monoclonal antibody with a unique dual mechanism of action: it enhances the clearance of existing NETs and inhibits the formation of new NETs.

By addressing this key driver of inflammation, CIT-013 has the potential to offer a differentiated and comprehensive treatment option for conditions such as rheumatoid arthritis and hidradenitis suppurativa, where current therapies often fall short of providing adequate disease control.

Contacts

Citryll
Sjoerd van Gorp, COO
Email: ...

Citryll Media Contacts
ICR Healthcare
Amber Fennell, Sukaina Virji, Lucy Featherstone
Email: ...

MENAFN09122024004107003653ID1108969813