# Crystalys Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/crystalys-therapeutics

- Industry: Biotechnology
- Headquarters: San Diego, US
- Website: www.crystalystx.com
- Total disclosed funding: $335M
- Latest round: Series B (Jul 22, 2026)
- Investors on record: 21

## About

Crystalys Therapeutics Inc. is a US-based biotechnology company dedicated to developing innovative therapeutics aimed at treating gout and improving patient outcomes. Founded in 2025 and headquartered in San Diego, California, Crystalys Therapeutics Inc. focuses on developing treatments for gout. Founded in 2025 and headquartered in San Diego, California, Crystalys Therapeutics Inc. focuses on developing treatments for gout. Crystalys Therapeutics Inc. was co-founded by James Mackay (CEO), Nihar Bhakta, Ashwin Ram, DeAnne Reid, and BT Slingsby. In July 2026, Crystalys Therapeutics Inc. raised USD 130 million in series B funding led by Frazier Life Sciences, with participation from Trails Edge Capital Partners, Wellington Management, HBM Healthcare Investments, Soleus Capital, Cormorant Asset Management, Pivotal bioVenture Partners,KCap Biotechnology Fund, Novo Holdings, SR One, Catalys Pacific, Perceptive Advisors, Abrdn, Lightstone Ventures, AN Ventures, KB Asset Management, Pontifax Venture Capital, Longwood Fund, Alexandria Venture Investments, Wedbush Ventures and Prebys Ventures Fund.


Crystalys Therapeutics’ lead investigational product is dotinurad, a once-daily oral, highly selective URAT1 inhibitor being developed as a potential second-line treatment for gout. Dotinurad is being evaluated in the Phase 3 RUBY and TOPAZ trials and the Phase 2 AMETHYST trial.

Crystalys generates revenue primarily through B2B partnerships, direct sales to healthcare institutions, and potential licensing agreements with pharmaceutical partners, employing transaction structures involving upfront payments and royalties, although specific pricing has not been disclosed.

The company plans to use the July 2026 funding to support Phase 3 and Phase 2 clinical trials for dotinurad and prepare for its potential commercial launch.

## Funding rounds

- Series B, Jul 22, 2026, $130M — HBM Partners, SR One, Alexandria Venture Investments, Novo Holdings, KB Asset Management, Wellington Management, Pontifax Venture Capital, Longwood Fund, Lightstone Ventures, Cormorant Asset Management, Perceptive Advisors, Pivotal Life Sciences, Soleus Capital, Catalys Pacific, Wedbush Ventures, Abrdn, Kuahiwi Management, AN Ventures, Trails Edge Capital Partners, Frazier Life Sciences, Prebys Ventures
- Series A, Sep 30, 2025, $205M — SR One, Alexandria Venture Investments, Novo Holdings, KB Asset Management, Pontifax Venture Capital, Longwood Fund, Lightstone Ventures, Perceptive Advisors, Catalys Pacific, Wedbush Ventures, Abrdn, AN Ventures

## Investors

- SR One (https://capitalatlas.ai/funds/sr-one) — Series A, Series B
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series A, Series B
- Novo Holdings — Series A, Series B
- KB Asset Management (https://capitalatlas.ai/funds/kb-asset-management) — Series A, Series B
- Pontifax Venture Capital (https://capitalatlas.ai/funds/pontifax-venture-capital) — Series A, Series B
- Longwood Fund (https://capitalatlas.ai/funds/longwood-fund) — Series A, Series B
- Lightstone Ventures (https://capitalatlas.ai/funds/lightstone-ventures) — Series A, Series B
- Perceptive Advisors (https://capitalatlas.ai/funds/perceptive-advisors) — Series A, Series B
- Catalys Pacific (https://capitalatlas.ai/funds/catalys-pacific) — Series A, Series B
- Wedbush Ventures (https://capitalatlas.ai/funds/wedbush-ventures) — Series A, Series B
- Abrdn — Series A, Series B
- AN Ventures (https://capitalatlas.ai/funds/an-ventures) — Series A, Series B
- HBM Partners (https://capitalatlas.ai/funds/hbm-partners) — Series B
- Wellington Management (https://capitalatlas.ai/funds/wellington-management) — Series B
- Cormorant Asset Management (https://capitalatlas.ai/funds/cormorant-asset-management) — Series B
- Pivotal Life Sciences (https://capitalatlas.ai/funds/pivotal-life-sciences) — Series B
- Soleus Capital (https://capitalatlas.ai/funds/soleus-capital) — Series B
- Kuahiwi Management — Series B
- Trails Edge Capital Partners — Series B
- Frazier Life Sciences — Series B
- Prebys Ventures (https://capitalatlas.ai/funds/prebys-ventures) — Series B