Kallyope Inc. Announces $21 Million Expansion of Series B Financing
NEW YORK, Dec. 5, 2018 /PRNewswire/ -- Kallyope Inc., a leading biotechnology company focused on identifying therapeutic opportunities involving the gut-brain axis, today announced a $21 million expansion of its previously announced Series B financing, bringing the Series B round total to $87 million. The company will use the additional funds to further advance its portfolio of programs targeting the gut-brain axis. Kallyope has now raised $131 million in equity capital since inception.
The expanded financing was led by Bill Gates. All previous Kallyope investors participated, including Lux Capital, The Column Group, Polaris Partners, Illumina Ventures, Alexandria Venture Investments, Euclidean Capital, and Two Sigma Ventures.
"We are grateful for the support of Mr. Gates and the renewed support of our current investors, who all share Kallyope's vision that a comprehensive understanding of gut-brain circuits will allow us to target diseases of high unmet need in a fundamentally new way," said Nancy Thornberry, CEO of Kallyope. "This additional infusion of capital will enable us to maximize the value of our platform and more rapidly advance our programs."
The gut-brain axis, the bi-directional communication system between the gut and the brain, modulates key aspects of physiology and behavior and is linked to a number of diseases. Kallyope has developed a platform that enables a systematic approach to targeting gut-brain circuits with small molecules and has initiated multiple programs spanning metabolic, central nervous system, and gastrointestinal disorders. In addition to its internal small molecule programs, Kallyope recently initiated a collaboration with Novo Nordisk A/S focusing on the discovery of peptide therapeutics for the treatment of obesity and diabetes.
About Kallyope Inc.
Kallyope, headquartered at the Alexandria Center® for Life Science in New York City, is a platform biotechnology company dedicated to unlocking the therapeutic potential of the gut-brain axis. A cross-disciplinary team integrates cutting-edge technologies in sequencing, bioinformatics, neural imaging, cellular and molecular biology, and human genetics to provide an understanding of gut-brain biology that will lead to transformational therapeutics to improve human health. The company's founders are Charles Zuker, Ph.D., Lasker Award winner Tom Maniatis, Ph.D., and Nobel laureate Richard Axel, M.D. For more information visit www.kallyope.com.
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SOURCE Kallyope Inc.