Citryll has secured an oversubscribed Series B funding round, raising €85m ($89.8m) to advance the clinical development of the first-in-class monoclonal antibody, CIT-013, designed to target neutrophil extracellular traps (NETs), which play a key role in inflammation and have not been previously therapeutically targeted.
Novartis Venture Fund, Johnson & Johnson Innovation – JJDC and Forbion co-led the funding round.
It also saw participation from Pureos Bioventures and existing investors Seventure Partners, BioGeneration Ventures, BOM, Curie Capital and the founders of Citryll.
With the completion of the Series B round, a representative from JJDC along with Geert-Jan Mulder, managing partner at Forbion, and Florian Muellershausen, managing director at Novartis Venture Fund, are set to join Citryll’s board as non-executive directors.
Citryll CEO Eduardo Bravo stated: “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 programme.
“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.”
NETs can be characterised as the web-like structures that neutrophils release to trap and degrade pathogens. However, their excessive formation can lead to tissue damage and chronic inflammation in immune-mediated inflammatory disorders.
The company has recently completed Phase I trials, along with repeat dosing in rheumatoid arthritis subjects.
Phase IIa trials are set to focus on both rheumatoid arthritis and hidradenitis suppurativa, aiming to establish the antibody’s dual mechanism of action, which clears existing NETs and prevents the formation of new ones.
The antibody is designed to be highly selective for its epitope, reducing the risk of off-target effects. It does not enter cells, which helps to preserve normal intracellular functions.
