Citryll, an Oss, The Netherlands-based biotech company developing a new approach to treating immune-mediated inflammatory diseases by targeting Neutrophil Extracellular Traps (NETs), raised €85M in Series B funding.
The round was led by Johnson & Johnson, Forbion and Novartis Venture Fund, with participation form Pureos Bioventures, alongside existing investors BioGeneration Ventures, Seventure Partners, BOM, Curie Capital, and Citryll’s founders.
The company intends to use the funds to enable next steps for the clinical development of CIT-013, a monoclonal antibody which targets Neutrophil Extracellular Traps (NETs), a fundamental component of the inflammatory process that has yet to be addressed therapeutically.
Led by CEO Eduardo Bravo, Citryll is developing a NET-targeting therapy, and potentially creating a new class of therapeutics with broad applications across immune-mediated inflammatory diseases. Its 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.
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.
FinSMEs
09/12/2024