Crystalys Raises $130M Series B for Gout Drug Dotinurad

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Crystalys Therapeutics, a biotech company based in San Diego, California, has closed an oversubscribed $130 million Series B to push its lead gout drug toward the market. Frazier Life Sciences led the round, which the company announced on July 22, 2026.

New investors Wellington Management, HBM Healthcare Investments, and Soleus Capital joined the financing, which comes less than a year after the company raised a $205 million Series A. Crystalys is developing dotinurad, an oral URAT1 inhibitor aimed at gout.

The drug’s clinical program includes two ongoing Phase 3 registration trials, known as RUBY and TOPAZ, along with a Phase 2 study called AMETHYST. Together they are designed to test dotinurad across a wide range of patients with gout, including those who have few treatment options today.

Crystalys plans to use the capital to advance the global development of dotinurad, prepare for a potential commercial launch, and carry the company through several expected clinical and regulatory milestones.