KaliVir Immunotherapeutics, Inc., a clinical-stage biotechnology company developing cutting-edge, multi-mechanistic oncolytic immunotherapy programs, today announced the closing of a $14 million extension of its Series A financing. The financing was led by Company K Partners, with participation from SV Investment, Flexus Partners, as well as continued support from existing investors including affiliates of Nextrans and Quad Investment Management.
The financing brings the total capital raised in the Company’s Series A financing to $25 million, further strengthening KaliVir’s balance sheet and supporting the continued advancement of its lead clinical program, VET3-TGI.
Proceeds from the financing will be used to support the ongoing clinical development of VET3-TGI, including patient enrollment in KaliVir’s STEALTH-001 Phase 1/1b clinical trial in patients with advanced solid tumors, as well as for general corporate purposes. In conjunction with the financing, Woo Young Kim of Company K Partners, Kwang Ha Jung of SV Investment, and JP Hong of Flexus Partners have joined KaliVir’s Board of Directors.
“This financing reflects the confidence of both new and existing investors in the potential of our VET™ platform and the progress we have made advancing VET3-TGI in the clinic,” said Helena Chaye, PhD, JD, Chief Executive Officer of KaliVir Immunotherapeutics. “With this additional capital, we are well positioned to continue executing on the STEALTH-001 study, advance key clinical milestones and further evaluate the potential of VET3-TGI as a differentiated oncolytic immunotherapy for patients with advanced solid tumors. We are pleased to welcome seasoned life sciences investors Woo Young Kim, Kwang Ha Jung and JP Hong to our Board and look forward to their insights and partnership as we continue to build the company.”
About VET3-TGI and the STEALTH-001 Study
VET3-TGI is a novel oncolytic virus developed using KaliVir’s proprietary VET™ platform, designed to selectively replicate in tumor cells, stimulate local immune responses and remodel the immunosuppressive tumor microenvironment through the expression of IL-12 and a TGFβ inhibitor. The STEALTH-001 study is a first-in-human, open-label, Phase 1/1b dose-escalation and expansion trial evaluating VET3-TGI administered by intratumoral injection or intravenous infusion, both as a monotherapy and in combination with atezolizumab in patients with pathologically confirmed, advanced, unresectable or metastatic solid tumors. The study continues to progress as planned through its dose escalation phase.
About KaliVir Immunotherapeutics, Inc.
KaliVir Immunotherapeutics is a clinical-stage biotechnology company at the forefront of developing next-generation oncolytic immunotherapies. By harnessing the unique advantages of the vaccinia platform, KaliVir engineers optimized viral backbones to create innovative candidates for cancer treatment. The Company’s proprietary Vaccinia Enhanced Template (VET™) platform integrates multiple genetic modifications, allowing for the systemic delivery of oncolytic vaccinia candidates and the targeted expression of therapeutic transgenes within tumors. Headquartered in Pittsburgh, Pennsylvania, KaliVir is committed to revolutionizing cancer treatment. For more information, visit www.kalivir.com.
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