Crossovers join Crystalys’ $130M series B: Venture Report

During a relatively slow summer season for venture fundings, the week’s lone nine-figure round went to Crystalys, a four-year-old start-up advancing late-stage asset dotinurad to treat gout.

San Diego-based Crystalys Therapeutics Inc. holds U.S. and European rights to dotinurad, a URAT1 inhibitor that’s already approved in China, Japan and other Asian territories. The company is using the NewCo Model, in which VCs supply cash to a start-up company seeking to drive global development of a promising program that originated in Asia...