Kira Pharmaceuticals Announces $53.5 Million Series B+ Financing to Advance LOGIC Drug Discovery Platform and Pipeline of Complement-targeted Therapies
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CAMBRIDGE, Mass. and SUZHOU, China, Jan. 7, 2021 /PRNewswire/ -- Kira Pharmaceuticals, a global biotechnology company pioneering a new generation of complement-targeted therapies to treat immune-mediated diseases, today announced the first closing of an oversubscribed $53.5 million Series B+ financing. The financing was co-led by RA Capital Management and Vivo Capital, with participation from Foresite Capital and APlus Partners. Existing investors, including Quan Capital and Qiming Venture Partners USA, also participated in the first closing.
"While the complement system has historically been difficult to target given its complexity, we believe our LOGIC drug discovery platform enables us to approach complement mediation in new and different ways, unlocking transformative therapies for patients," said Frederick Beddingfield, MD, PhD, Chief Executive Officer of Kira Pharmaceuticals. "We are honored to have the support of top-tier global investors as we continue to advance our lead asset P014, a bifunctional biologic entering the clinic soon, and a pipeline of important complement-targeted therapies for patients in need." With a therapeutic focus on inflammatory and autoimmune diseases and oncology, Kira has plans to advance three complement-targeted therapies to the clinic over the next 18 months. Kira's most advanced program, P014, is a first-in-class biologic molecule with a unique mechanism of action designed to inhibit both upstream and downstream complement targets. By regulating two separate rate-limiting steps in the complement activation cascade critical for disease development, P014 provides a powerful and selective approach to complement inhibition. P014 has also been engineered with an extended half-life and potency, with the opportunity for self-administration at home. "We are thrilled by the rapid progress Kira Pharmaceuticals has made with its lead program, P014, a therapeutic with a truly novel mechanism of action, that will be advancing into the clinic soon," said Matthew Hammond, PhD, Principal at RA Capital Management. "With an intelligent drug discovery platform, a broad pipeline of therapies and a top-tier team, we believe Kira is on the leading edge of defining a new way to target complement and provide long-acting immune modulation." "We are excited to embark on this partnership with the Kira Pharma team and look forward to the advancement of breakthrough complement therapeutic P014 into the clinic," said Dandan Dong, PhD., Managing Director at Vivo Capital. "With a world-class management team and a global infrastructure, we believe Kira is in a unique position to leverage its scientific expertise and resources to rapidly bring innovative therapies to patients suffering from complement mediated diseases." About Kira Pharmaceuticals
SOURCE Kira Pharmaceuticals |
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