In gout, the drug choices for patients remain limited. The history of this field includes many molecules that fell short in the clinic or on the market for safety reasons. James Mackay knows firsthand having led a company that developed two of those withdrawn products.

Mackay is back to try again. He is now CEO of Crystalys Therapeutics, whose main asset is an in-licensed gout drug candidate with validation from its approval in several Asian countries and additional safety data from real-world use in those regions. On Tuesday, Crystalys revealed $205 million raised for Phase 3 tests that could support plans to eventually bring this small molecule to patients in the U.S. and other markets.

Gout, a common form of inflammatory arthritis, stems from high uric acid levels in the blood that

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