Cutiss: Series B Financing Round successfully secured with CHF 18.7 Mio.
Zurich, Switzerland, June 4 2020 – CUTISS AG, an innovative Swiss Life Science Company aiming to provide patients that suffer from large and deep skin defects with an automatically produced, personalized skin tissue therapy, denovoSkin™, today announced it has successfully secured its series B financing round. Funds raised so far sum-up to CHF 18.7 million. The financing round was led by Giammaria Giuliani (Gisev Family Office), seconded by the Wyss Foundation and supported by new and existing private investors and family offices. The series B financing round aiming at up to CHF 20 million in total is still ongoing; its final closing is expected for June 15 2020.
The proceeds will allow CUTISS to further progress denovoSkin™, the Company’s unique personalized skin technology to treat skin defects, i.e. due to burns. Upcoming key inflection points include the completion of the ongoing clinical phase II trials, the scale-up of the manufacturing at the Biotechnopark in Zurich-Schlieren, and the successful implementation of a prototype machine for the automated production of large quantities of skin from a small piece of healthy skin. It is CUTISS’ ambition to file for market authorization with denovoSkin™ in Switzerland and in the European Union in 2022.
In 2018, CUTISS raised CHF 11.2 million in a series A financing round that included Business Angels and Family Offices as well as Giammaria Giuliani (Gisev Family Office), Yellowstone Holding, and the Zürcher Kantonalbank (ZKB). In addition, a total of CHF 4 million were granted by Innosuisse and the European Commission (non-dilutive).