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Reflections on a Transformative Year at Citryll

As we approach the holiday season and the end of 2024, I wanted to take a moment to reflect on what has been a remarkable year for Citryll and share our plans for 2025.

Just last week, we announced our €85 million Series B funding round, led by Johnson & Johnson Innovation (JJDC), Forbion and Novartis Venture Fund. We’re also pleased to welcome Pureos Bioventures, alongside our committed existing shareholders. This investment is a strong validation of our innovative approach to treating immune-mediated inflammatory diseases by targeting Neutrophil Extracellular Traps (NETs), a biological defense mechanism.

But funding is just one part of our story. This year, we’ve made significant strides generating important scientific and clinical data for the next phase of development, as well as building out our team.

On the scientific front, during the year we published key research describing CIT-013’s unique dual mechanism of action and compelling preclinical data. Perhaps most importantly, we completed our Phase 1 clinical trial, which demonstrated the tolerability of subcutaneous administrations and offered insights into safety, tolerability, efficacy and pharmacokinetics of our lead compound in rheumatoid arthritis patient volunteers. The data were supportive to progression to the next stage of clinical development.

To support this clinical development, we have strengthened our leadership with the additions of Maarten Kraan as Chief Medical Officer, Dorus Wilderbeek as Senior Clinical Project Manager, and Mukesh Sehdev as Head of CMC. Their insights have already proved invaluable as we advance our programs.

Looking ahead to 2025, we’re setting ambitious goals. We’ll be expanding our team further to support our next phase of growth, including clinical studies in the US. We’re particularly excited about initiating two Phase 2a trials, one in rheumatoid arthritis and one in hidradenitis suppurativa – conditions where many patients still struggle to achieve adequate disease control with current treatments. We are looking forward to presenting and publishing our complete Phase 1 clinical data.

As the recognized leader in NET biology, we’ll continue to strengthen our scientific leadership in the NET space through publications, presentations, and new collaborations to expand our translational science data package.

Because NETs are also considered a therapeutic target in several respiratory, renal and cardiovascular diseases, we will continue establishing proof of concept of our NETs targeting approach beyond immune mediated inflammatory diseases, either alone or in partnership with pharmaceutical companies.

At our core, we remain focused on our mission of targeting the fundamental drivers of inflammation, to help patients who need better treatment options. The NET-targeting approach we’re pioneering has the potential to transform how we treat immune-mediated inflammatory diseases, and we’re more confident than ever in its potential.

As we close out 2024, I want to thank our team, investors, and partners for their dedication and support. We look forward to sharing more updates as we continue our journey in 2025.

Wishing you all a peaceful holiday season,

Eduardo Bravo,

CEO, Citryll

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