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Clinical-stage biotechnology company KaliVir Immunotherapeutics has raised $14 million in an extension of its Series A financing to advance the clinical development of its lead cancer therapy, VET3-TGI.
The financing was led by Company K Partners, with participation from SV Investment and Flexus Partners, along with continued support from existing investors including affiliates of Nextrans and Quad Investment Management.
The latest financing brings KaliVir’s total capital raised in its Series A round to $25 million.
KaliVir plans to use the new funding to support the ongoing clinical development of VET3-TGI, including patient enrollment in its STEALTH-001 Phase 1/1b clinical trial. The company will also use the funds for general corporate purposes.
VET3-TGI is an experimental oncolytic immunotherapy designed to selectively replicate inside tumor cells while stimulating local immune responses. The therapy is also designed to modify the tumor microenvironment through the expression of IL-12 and a TGFβ inhibitor.
The company’s STEALTH-001 study is a first-in-human, open-label Phase 1/1b trial evaluating VET3-TGI in patients with advanced, unresectable or metastatic solid tumors.
The study is evaluating the therapy through both intratumoral injection and intravenous infusion, either as a standalone treatment or in combination with atezolizumab. KaliVir said the trial is continuing as planned through its dose-escalation phase.
The financing also brings new members to KaliVir’s board of directors. Woo Young Kim of Company K Partners, Kwang Ha Jung of SV Investment, and JP Hong of Flexus Partners have joined the board.
Founded in Pittsburgh, Pennsylvania, KaliVir develops next-generation oncolytic immunotherapies using its proprietary Vaccinia Enhanced Template (VET) platform. The platform incorporates multiple genetic modifications into vaccinia virus backbones with the goal of enabling systemic delivery and targeted expression of therapeutic genes within tumors.
“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.”
With the latest financing, KaliVir aims to continue advancing VET3-TGI through clinical development and evaluate its potential as a treatment for patients with advanced solid tumors.
