Cutiss replenishes series B funding

Cutiss, a Switzerland-based skin graft therapy developer spun out of University of Zurich, has closed an oversubscribed CHF20m ($21.1m) series B round led by Gisev Family Office.
Philanthropic grant-making body Wyss Foundation filled out the round together with unnamed family offices and private investors.
Founded in 2017, Cutiss uses a single piece of healthy skin to engineer large quantities of human skin grafts that can be transplanted to repair dermatological defects such as burns.
The company’s first product, DenovoSkin, has orphan drug status as a potential burn treatment in the EU, US and Switzerland.
Cutiss will use the series B cash to progress DenovoSkin through an ongoing phase 2 clinical study while scaling its production capacity ahead of regulatory submissions in 2022 for Switzerland and the EU.
Cutiss was the first company backed by UZH Life Sciences Fund – the university venture firm formed by UZH Foundation and pharmaceutical firm Novartis’s Venture Fund which supplied $1m in 2017.
The spinout later raised $7.2m in a mid-2018 series A round led by private investor Giammaria Giulian with commitments from financial services firm Zürcher Kantonalbank, investment partnership Yellowstone Holding and unnamed private investors.