Crystalys Raises $130M Series B to Advance Gout Drug Dotinurad Through Phase 3

Crystalys Therapeutics has raised $130 million in a Series B financing round to advance the development of its gout drug, dotinurad, through Phase 3 trials and prepare for potential commercialization.

The funding was led by Frazier Life Sciences, with participation from new investors including Wellington Management, HBM Healthcare Investments, Soleus Capital, and Cormorant Asset Management, as well as existing investors Novo Holdings, SR One, and Catalys Pacific.

Proceeds will support two ongoing registration-directed Phase 3 trials—Ruby and Topaz—comparing dotinurad against allopurinol in patients with hyperuricemia associated with gout and tophaceous gout, respectively, as well as the Phase 2 Amethyst trial.

Dotinurad is a once-daily oral URAT1 inhibitor that has been approved in multiple Asian countries and has extensive real-world safety data, which regulators used to justify moving directly into late-stage development in the U.S. and Europe.

The Series B financing is expected to extend the company’s operational runway at least a year beyond Phase 3 data readouts, positioning crystalys for potential regulatory submissions and commercialization.