CUTISS, an innovative Swiss life science startup aiming to provide patients that suffer from large and deep skin defects with an automatically produced, personalized skin tissue therapy, denovoSkin™, today announced it has successfully closed its series B financing round. The €18.72 million Series B funding round was oversubscribed and the fresh capital will allow CUTISS to further progress denovoSkin™, the startup’s unique personalized skin technology to treat skin defects, i.e. due to burns.
Upcoming key inflection points include the completion of the ongoing clinical phase II trials, the scale-up of the manufacturing at the Biotechnopark in Zurich-Schlieren, and the successful implementation of a prototype machine for the automated production of large quantities of skin from a small piece of healthy skin. The CUTISS team plans to file for market authorization with denovoSkin™ in Switzerland and in the European Union in 2022.
After more than 15 years of research, Zurich-based CUTISS was officially founded in 2017. The young company is a spin-off of the University of Zurich. Its lead product candidate, denovoSkin™, has been tested in a phase I clinical trial on pediatric patients at the University Children’s Hospital in Zurich. Phase II studies are currently ongoing in Switzerland and the European Union and are partially funded by Wyss Zurich.
Dr. Daniela Marino, CEO and Co-Founder of CUTISS, commented: “We feel very lucky and privileged that we have closed an oversubscribed series B financing round. We will invest these proceeds circumspectly, aiming at improving burn patients’ lives.”
Giammaria Giuliani, Co-Founder of Gisev Family office and Member of the Board of Directors of CUTISS, added: “It has been an honor acting as lead investor for this series B financing round. The support by the Wyss Foundation as well as new and existing private investors and family offices demonstrates the potential many investors see in CUTISS’ vision and strategy.”