The life sciences firm CUTISS, based in Schlieren in the canton of Zurich, has announced the start of a Series C financing round. Founded in 2017, the spin-off from the University of Zurich and its affiliated children’s hospital is seeking use this financing round to bring its personalized skin therapy denovoSkin to a final development phase.
According to a company press release, the Series C financing round is being jointly led by the current lead investor, the family office headed up by Giammaria Giuliano, and a North American family newly investing in the firm that is being represented by the Zug-based consulting company Shiloh Advisors. Existing shareholders and new investors are to be involved in the process in an effort to support CUTISS in the last steps before commercialization activities can begin.
The company’s main product denovoSkin is a personalized human skin transplant that can be bioengineered in large quantities on the basis of healthy skin tissue measuring just the size of a postage stamp. Following the completion of Phase 1 clinical safety trial with a follow-up period of five years, a Phase 2 clinical trial in adult and adolescent burns patients confirmed high efficacy in April 2023. Swissmedic as well as the European (EMA) and US (FDA) regulatory authorities have awarded Orphan Drug Designation to denovoSkin.
To automate the production of denovoSkin, CUTISS has developed the world’s first machine with the capability to produce large, personalized skin transplants in a closed system. The company is now said to be ready to begin the process of industrialization.
CUTISS is headquartered at Bio-Technopark Schlieren-Zurich. ce/mm