California, USA-based clinical-stage cell therapy company with the mission of engineering a new class of therapies for autoimmune diseases, Kyverna Therapeutics, closed its Series B extension at USD 60 million. The company announced the closure on August 3, 2023. The company’s total proceeds in the Series B round so far amount to USD 145 million.
New investors such as Bain Capital Life Sciences and GordonMD® Global Investments LP provided the investment. Meanwhile, existing investors such as Gilead Sciences, Westlake Village BioPartners, Vida Ventures, Northpond Ventures, RTW Investments, Insight Partners, CAM Capital, LYFE Capital, jVen Capital, and others joined in the funding.
Purpose of financing for Kyverna Therapeutics
With the latest financing, Kyverna seeks to fund the clinical development of novel fully human anti-CD19 CAR T-cell therapies for autoimmune diseases.
Meanwhile, the company also continues to explore additional indications for its anti-CD19 CAR T-cell therapies. In addition, it has plans to develop a robust pipeline of promising immunotherapies aimed at addressing unmet medical needs.
What the company’s official has to comment
Ryan Jones, the chief financial officer of Kyverna, said, “We are pleased by the increasing investor confidence in the promise of Kyverna’s anti-CD19 CAR T-cell therapy for autoimmune diseases. This Series B extension will fund Kyverna’s clinical studies in the U.S. and Europe. It enables us to move more quickly toward bringing potentially transformative and life-saving therapies to patients. We continue to treat autoimmune patients in multiple indications and multiple geographies, and we look forward to sharing clinical data in the second half of 2023.”
What the investors have to comment
Craig Gordon, M.D., founder, chief executive officer, and chief investment officer of Gordon MD® Global Investments LP, further said, “I have supported anti-CD19 CAR T-cell therapy for cancer since the early clinical trials. It is exciting to see Kyverna break into new frontiers by advancing cell therapies for autoimmune diseases. I am looking forward to future developments from Kyverna.”
About the company
Jeffrey Greeve in 2018 launched the company. Kyverna Therapeutics is a clinical-stage cell therapy company. It is on the mission of engineering a new class of therapies for autoimmune diseases. The Kyverna therapeutic platform integrates advanced T-cell engineering with synthetic biology technologies to suppress and eliminate the autoreactive immune cells at the origin of autoimmune and inflammatory diseases.
Kyverna’s pipeline includes next-generation chimeric antigen receptor (CAR) T-cell therapies in both autologous and allogeneic formats. It boasts properties which are well-suited for use in B cell-driven autoimmune diseases. By offering more than one mechanism for taming autoimmunity, Kyverna is in a good position to act on its mission of transforming how autoimmune diseases are treated.
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