New updates have been reported about Crystalys Therapeutics (CRYST)
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Crystalys Therapeutics, a clinical-stage biopharmaceutical company, has emerged from stealth with a substantial $205 million Series A financing round. This funding, co-led by Novo Holdings, SR One, and Catalys Pacific, will support the advancement of Crystalys’s lead asset, dotinurad, through global Phase 3 clinical trials. Dotinurad, a next-generation URAT1 inhibitor, has shown promising safety and efficacy in treating gout, with approvals already secured in Japan, China, the Philippines, and Thailand. The company’s strategic focus is on addressing the unmet medical needs of gout patients, particularly those who do not respond adequately to first-line treatments.
Under the leadership of CEO James Mackay, Ph.D., Crystalys is poised to accelerate the development of dotinurad in the U.S. and Europe as a much-needed second-line therapy. The company boasts a team with extensive experience in gout drug development, including co-founders Dr. Nihar Bhakta, Dr. Ashwin Ram, and Ms. DeAnne Reid. The upcoming Phase 3 trials aim to demonstrate dotinurad’s superior efficacy in reducing serum uric acid levels and gout-related symptoms. With over 1.2 million patients treated in Japan since its approval, dotinurad has consistently achieved target serum uric acid levels, underscoring its potential to transform gout treatment. Crystalys’s efforts align with its vision of leveraging Japan’s pharmaceutical innovation to deliver transformative therapies for gout patients worldwide.