– NETHERLANDS, Oss – Citryll announced it closed a total fundraise of € 18.5 million, co-led by Seventure Partners and BioGeneration Ventures alongside existing investors BOM Brabant Ventures, BrightGene and ModiQuest also participating.
In addition, Citryll has been awarded an Innovation Credit from the Dutch Government through its agency RVO of the Ministry of Economic Affairs and Climate Policy set up to stimulate the development of high potential innovations.
The proceeds will be used to advance the pre-clinical and clinical development of Citryll’s CIT-013 therapeutic antibody, an inhibitor of neutrophil extracellular traps and their formation.
“We welcome this significant investment by a strong investor syndicate from Europe and China and the substantial support by the Dutch Government. CIT-013 has therapeutic potential for autoimmune disorders such as lupus, organ damage due to sepsis, asthma and NET-induced thrombosis. CIT-013 does not broadly target inflammation or acquired immunity, instead, it extinguishes the source of autoantigens, NET-derived toxic, prothrombotic and proinflammatory components in the safest way currently possible”, said CEO Helmuth van Es.
“We are excited to be able to invest in Citryll, as the company is an excellent example of a first-in-class therapeutic innovation that could significantly reduce the mortality of a number of chronic diseases by reducing organ damage. Growing scientific and clinical insight shows that NET formation and chronic NET exposure plays an important role in a range of human pathologies and intersects with our core interest in microbiome biology. We look forward to supporting the further development of Citryll”, commented Isabelle de Cremoux, CEO and Managing Partner of Seventure Partners.
The Citryll team is a world leader and pioneer in the NETosis space with a high-potential therapeutic antibody in development, and we are proud to support them to advance their lead compound into the clinic” says BGV‘s Managing Partner Edward van Wezel.
The preclinical development and manufacturing process of CIT-013 was accelerated in 2019 through the first closing of the financing round by existing investors BOM Brabant Ventures, BrightGene, Curie Capital, and ModiQuest. The program is on track to reach the clinic in 2021.
About Citryll B.V.
Citryll is a private pharmaceutical company based in Oss, the Netherlands at the Pivot Park and that is dedicated to the development and commercialization of therapeutics that target NETosis and NETs. Citryll was founded by ModiQuest B.V., the originator of the tACPA patents, Helmuth van Es, CEO Citryll, and Renato Chirivi of ModiQuest B.V., CSO Citryll and co-inventor of tACPA.
For more information: https://citryll.com
About Seventure Partners
With €750m net commitments under management as of the end of 2018, Seventure Partners is a leading venture capital firm in Europe. Since 1997, Seventure Partners has been investing in innovative businesses with high growth potential in two fields: Life sciences across Europe, Israel, Asia and North America and Digital technologies in France and Germany. In Life sciences, the main areas of focus include “classic” approaches such as biotechnology and pharmaceuticals, diagnostic and MedTech, industrial biotechnology, as well as “beyond the pill” approaches such as MICROBIOME-linked innovations, nutrition, foodtech, digital/connected health and personalized medicine.
For more information: http://www.seventure.fr/en
About BGV
BGV is a specialized life-sciences venture capital firm, with a focus on early-stage European biotech companies. BGV has a strong track record of significant financial returns through investing in innovations in healthcare and providing the expertise to build world-class teams. BGV manages funds investing in areas where the science, the unmet medical need, and the potential to rapidly demonstrate a significant proof of concept all come together. Successful investments include Dezima Pharma, Staten Biotechnology and Acerta Pharma. BGV was a founding investor in all three companies. The Acerta Pharma sale was the largest exit to date of a privately held European biotech company. Since inception BGV has made over twenty-five investments. BGV is based in Naarden, The Netherlands, and collaborates with Forbion.
For more information: https://www.biogenerationventures.com/
- Disclaimer - News, data, and statements included in this release are intended exclusively for general information purposes. Talent4Boards does not guarantee that news is accurate or about the correct person and accepts neither liability for the consequences of the reader’s reliance, nor responsibility for the accuracy of the information. Nothing in this release should be considered for decisions about referred securities. Products and brand names may be trademarks or registered trademarks of their respective owners.
