Citryll secures Series B funding for NET-targeting antibody development

Citryll has successfully raised €85 million ($89.8 million) in an oversubscribed Series B funding round to propel the clinical development of CIT-013, a pioneering monoclonal antibody. This innovative treatment specifically targets neutrophil extracellular traps (NETs), which are crucial in inflammatory processes and have not been previously addressed therapeutically.

The funding round was co-led by prominent investors including Novartis Venture Fund, Johnson & Johnson Innovation – JJDC, and Forbion. Additional participation came from Pureos Bioventures and existing investors such as Seventure Partners, BioGeneration Ventures, BOM, Curie Capital, and Citryll's founders.

With this new funding, Citryll plans to advance its clinical programs. Representatives from JJDC, Forbion, and Novartis Venture Fund will join Citryll's board as non-executive directors, bringing extensive expertise to the company.

Eduardo Bravo, CEO of Citryll, expressed his enthusiasm, stating that this diverse group of global life sciences investors shares the company's excitement about CIT-013's potential. He emphasized that the NET-targeting approach, developed by founders Renato Chirivi, Helmuth van Es, and the late Jos Raats, could provide significant benefits for conditions where current treatments are inadequate. Bravo highlighted the anticipation of offering a more effective treatment option for patients who have long struggled with insufficient disease control.

Neutrophil extracellular traps (NETs) are web-like structures released by neutrophils to trap and degrade pathogens. While beneficial in combating infections, excessive NET formation can lead to tissue damage and chronic inflammation in immune-mediated disorders.

Citryll recently completed Phase I trials, including repeat dosing in subjects with rheumatoid arthritis. The upcoming Phase IIa trials will focus on rheumatoid arthritis and hidradenitis suppurativa. These trials aim to establish the dual mechanism of action of the antibody, which involves clearing existing NETs and preventing the formation of new ones.

CIT-013 is designed to be highly selective for its epitope, minimizing the risk of off-target effects. Furthermore, it does not penetrate cells, thereby preserving normal intracellular functions. This specificity and safety profile are expected to enhance the therapeutic potential of CIT-013 in treating chronic inflammatory conditions.