CUTISS closes CHF 56M Series C round and signs agreement with leading EU burn center
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CUTISS, a late-stage clinical TechBio at the forefront of tissue therapeutics and regenerative medicine, has announced the closing of its Series C round for a total of CHF 56M with existing and new investors, bringing total funds raised to more than CHF 125M .
denovoSkin™, a personalized bio-engineered human skin graft developed by CUTISS. Currently in Phase 3 clinical trials in Europe.
(c) Frank Brüderli
The proceeds will be used to progress with the Phase 3 trial of the lead product denovoSkin™ which started earlier this year, and to prepare for its commercialization. The denovoSkin™ is a bio-engineered, personalized skin graft that promises to transform skin surgery and significantly improve patient outcomes, compared to the standard of care.
The funds will also advance the industrialization and clinical readiness of the world's first automated manufacturing platform for personalized tissue therapy , a key component for bringing denovoSkin™ to market at scale.
CUTISS has also signed a collaboration agreement with its new investor Rode Kruis Ziekenhuis (RKZ) , which could see the creation of CUTISS' first international commercial production facility in the Netherlands , once denovoSkin™ is approved. RKZ is a leading EU clinical trials center, participating in the Phase 2 and Phase 3 trials for denovoSkin™.
Dr. Daniela Marino , CEO and co-founder of CUTISS , stated: "The successful closing demonstrates confidence in our vision and ability to bring transformative skin therapies to patients. We're grateful for the continued trust of existing investors and warmly welcome new investors on board. Furthermore, the agreement with RKZ sets the stage for our future expansion with the potential to revolutionize the skin surgery market in Europe and globally."
Nadine Vieleers, CEO Rode Kruis Ziekenhuis / Burn Center Beverwijk , commented: "As a clinical institution dedicated to advancing burn care, we're committed to support CUTISS and the development of denovoSkin™. We're excited to continue our closer collaboration, and the agreement we've signed sets out our vision for bringing their revolutionary skin tissue therapy to our patients as a priority."
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