KaliVir Immunotherapeutics, a clinical-stage biotechnology firm, has successfully closed a $14 million extension of its Series A financing. This new capital injection, led by Company K Partners, brings the total raised in the round to $25 million. The proceeds are earmarked to advance the clinical development of its leading oncolytic immunotherapy candidate, VET3-TGI, for patients with advanced solid tumors.
Strategic Investment to Propel Clinical Trials
The financing round saw robust participation from both new and existing investors, signaling strong market confidence in KaliVir's approach. Company K Partners led the investment, joined by SV Investment and Flexus Partners, while affiliates of Nextrans and Quad Investment Management continued their support. This funding significantly strengthens the company's balance sheet for its next phase of growth.
A majority of the new capital will be directed toward the ongoing STEALTH-001 Phase 1/1b clinical trial for VET3-TGI. This includes accelerating patient enrollment and supporting the study's progression through its dose-escalation phase. A portion of the funds will also be allocated for general corporate purposes to sustain operational momentum.
Advancing a Novel Oncolytic Immunotherapy
VET3-TGI is an innovative oncolytic virus developed using KaliVir's proprietary Vaccinia Enhanced Template (VET) platform. It is engineered to selectively replicate within tumor cells, thereby triggering a localized immune response against the cancer. The therapy is designed to remodel the tumor microenvironment to make it more susceptible to immune attack.
The STEALTH-001 study is a first-in-human, open-label trial evaluating the safety and efficacy of VET3-TGI. The candidate is being administered through both intratumoral injection and intravenous infusion to assess different delivery methods. It is being tested as a standalone therapy and in combination with the checkpoint inhibitor atezolizumab.
Expanded Leadership and Investor Confidence
Helena Chaye, CEO of KaliVir, stated that the financing reflects strong investor belief in the VET platform's potential. She emphasized that the additional capital positions the company to effectively execute the STEALTH-001 study and achieve key clinical milestones. This progress is crucial for evaluating VET3-TGI's potential as a differentiated cancer treatment.
In conjunction with the financing, KaliVir has welcomed three new members to its Board of Directors. Woo Young Kim of Company K Partners, Kwang Ha Jung of SV Investment, and JP Hong of Flexus Partners will join the board. Their collective experience in life sciences investment will provide valuable strategic guidance as the company advances its clinical programs.
This successful $14 million financing extension marks a significant milestone for KaliVir Immunotherapeutics, providing the necessary resources to advance its lead candidate. With a strengthened financial position and an expanded board, the company is well-equipped to navigate the critical stages of clinical development for VET3-TGI. The investment highlights the industry's continued interest in pioneering oncolytic immunotherapies to address unmet needs in oncology.