Seed Round Completed
Kuria Therapeutics Closes Initial Fundraising Round to Develop Novel Nrf2 Activator
- Funds to support ongoing preclinical development activities ahead of planned Series A raise
LITTLE ROCK, Ark.--(BUSINESS WIRE)--Kuria Therapeutics, a pharmaceutical company developing novel ophthalmic and dermal therapeutics, announced that it has successfully closed its first fundraising round. The offering was met with significant enthusiasm and allowed the company to establish a base of experienced investment partners.
“This round allows us to advance our R&D activities and to further capitalize the company as we achieve significant milestones in the coming months.”
Kuria’s lead product candidate is a topical ophthalmic formulation of SCO-116, a novel Nrf2 activator being developed under a license from SCOHIA PHARMA (https://www.scohia.com/eng/). This funding round will support selection of a lead ophthalmic formulation, preclinical proof-of-concept studies, and initiation of key manufacturing activities for IND-enabling work and future clinical studies. “We are excited to have accomplished this important milestone in such short order after licensing our initial asset,” stated Dr. Keith Ward, President and Chief Executive Officer of Kuria. “This round allows us to advance our R&D activities and to further capitalize the company as we achieve significant milestones in the coming months.” Kuria’s lead topical ophthalmic product (KTX-1161) is focused on the corneal endothelium, a single layer of cells responsible for corneal transparency and vision. Corneal endothelial dysfunction may be caused by a variety of insults and diseases, converging on a final common pathophysiology comprising corneal swelling, loss of visual acuity, and blindness. There are no approved medications to treat patients with diseases of the corneal endothelium, with corneal transplant often the only available sight-saving therapeutic option. Extensive evidence supports the role of Nrf2 activation in promoting corneal endothelial function, and KTX-1161 may be applicable to multiple associated vision-threatening conditions. Kuria intends to evaluate efficacy of KTX-1161 in two parallel Phase 2 clinical studies. One study will evaluate the potential of KTX-116 to treat patients with Fuchs’ dystrophy, the most prevalent form of chronic corneal endothelial dysfunction, and the other study will evaluate the ability of KTX-1161 to prevent corneal endothelial cell loss associated with ophthalmic surgery. About Kuria Therapeutics, Inc.: Kuria Therapeutics, Inc. is a US-based pharmaceutical company dedicated to the development of novel therapeutics for ophthalmic and dermal disease. We are a team of seasoned life science executives and entrepreneurs with decades of experience in building biotechnology companies, running complex multi-national development programs, managing alliances with partners, and building relationships with clinicians, investors, vendors, and patient groups. For more information, visit www.kuriatx.com.
Contacts Investor Relations and Media Kuria Therapeutics: Corporate Communication email@example.com