Crystalys Therapeutics raises $130M Series B

Crystalys Therapeutics closed a $130 million Series B led by Frazier Life Sciences with broad participation from healthcare investors to fund late-stage global development and commercialization planning for dotinurad, an oral URAT1 inhibitor for gout. The capital supports the JEWEL program, including two Phase 3 registration-directed trials, RUBY and TOPAZ, alongside the Phase 2 AMETHYST study, with the goal of advancing dotinurad across a wide patient spectrum and preparing for U.S. and European market entry. Dotinurad, already approved in parts of Asia, is positioned as a second-line therapy intended to lower uric acid while reducing flares and tophi, aiming for best-in-class safety and efficacy. Crystalys emphasized that the round strengthens its ability to hit multiple clinical and regulatory milestones and to build commercial readiness ahead of a potential transition to a commercial organization. The funding round attracted participation from existing investors and a slate of crossover and growth-focused firms, reinforcing the company’s strategy to bring dotinurad to patients who do not respond to first-line therapies. Crystalys’ leadership, including CEO James Mackay, has framed the financing as a pivotal step toward global late-stage development and potential market launch, with results from ongoing trials anticipated next year.