Patient Square Capital bankrolled a new portfolio company, Elevage Medical Technologies, with $300 million to provide capital and strategic expertise to promising medical device companies. Evan Melrose, founding managing director of Spindletop Capital and a practicing family medicine physician, will lead Elevage.
Kriya Therapeutics Inc. has presented preclinical data on their novel candidate, KT-A261, an adeno-associated viral vector serotype 2 (AAV2) encoded to express adalimumab, administered as a single intravitreal injection to improve ocular concentrations of adalimumab, for the potential treatment of noninfectious uveitis (NIU).
Kriya Therapeutics Inc. has raised a $270 million series C financing to further develop its pipeline of gene therapies for treating cancer, ophthalmological problems, and rare and chronic diseases. The Redwood City, Calif.-based company has greatly expanded its employee roster, from about seven people to around 160 people, since its $80 million series A in May 2020 and scaled its learning-enabled tech and cloud computing abilities. It also further solidified its technology, manufacturing, R&D, and therapeutics units, something it plans to continue with the series C money.
Private biopharma investment in 2021 continues to outpace that of the past two years as two gene therapy companies, Shape Therapeutics Inc. and Kriya Therapeutics Inc., posted series B financings this week totaling more than $200 million.
Kriya Therapeutics Inc., a startup led by former Axovant Sciences Inc. executive Shankar Ramaswamy, has raised $80 million in series A financing expected to help advance a portfolio of gene therapies for diabetes and other chronic conditions.
