RESEARCH TRIANGLE PARK — There’s a new biotech company setting up shop in the Triangle, and it’s flush with cash and headed up by some big names in the industry.
Meet Kriya Therapeutics – the brainchild of Dr. Shankar Ramaswamy, former chief business officer for Axovant Gene Therapies; Fraser Wright, co-founder of Sparks Therapeutics; and Roger Jeffs, the former United Therapeutics CEO who has deep roots in North Carolina.
Launched in 2019, the biotech startup has dual headquarters in Durham and Palo Alto, California, and is billing itself as a “next-generation gene therapy company” focused on designing and developing treatments for highly prevalent and severe chronic conditions, like diabetes and obesity.
Earlier this month, it arrived in a big way after securing $80.5 million in Series A financing — during a pandemic.
“It’s never easy. But it’s a really significant pool of capital for us so we’re thankful to have been able to get it done,” Ramaswamy, Kriya’s CEO, told NC Biotech in a video interview this week. “[Our] investors have a very long term vision of what a next generation gene therapy company could look like, and we’re very supportive building towards that vision.”