Callio Therapeutics, a biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy, announced its launch with the closing of a $187 million Series A financing round. This funding was led by Frazier Life Sciences with significant participation from Jeito Capital along with other life sciences investors, including Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital, and EDBI.
The newly formed company plans to use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program.
In connection with the funding, Callio Therapeutics has entered into an exclusive worldwide license agreement with Hummingbird Bioscience for its multi-payload ADC platform in oncology and associated intellectual property and pipeline assets in exchange for equity, potential milestone payments, and royalties.
The founding Callio Therapeutics management team features individuals with extensive experience from leading biotechnology and biopharmaceutical companies, including ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience and Genentech:
– Piers Ingram, PhD, Chief Executive Officer
– Jerome Boyd-Kirkup, PhD, Chief Scientific Officer
– Naomi Hunder, MD, Chief Medical Officer
– Angèle Maki, PhD, Chief Business Officer
KEY QUOTES:
“We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy. This new generation of ADC therapies may meaningfully improve outcomes for patients.”
– Piers Ingram, PhD, co-founder and Chief Executive Officer of Callio Therapeutics
“The multi-payload ADCs being developed at Callio Therapeutics have the potential to address large unmet medical needs by overcoming many of the limitations of existing ADCs. With the expertise of the Callio Therapeutics team, together with access to the innovative multi-payload ADC technology, we believe that Callio Therapeutics will be the first company to show the clinical benefit of this exciting new multi-payload ADC approach and is well positioned to transform cancer therapy.”
– Adam Simpson, Executive Board Chair of Callio Therapeutics and Venture Partner at Frazier Life Sciences
