KaliVir Immunotherapeutics has raised a $14 million extension of its Series A financing to support continued clinical development of VET3-TGI, its lead oncolytic immunotherapy candidate for advanced solid tumors. The financing was led by Company K Partners, with participation from SV Investment and Flexus Partners. Existing investors, including affiliates of Nextrans and Quad Investment Management, also participated. The extension brings KaliVir’s total Series A financing to $25 million.
KaliVir plans to use the proceeds primarily to advance VET3-TGI through its ongoing STEALTH-001 Phase 1/1b clinical trial, including continued patient enrollment, while also supporting general corporate purposes.
Alongside 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.
VET3-TGI is an oncolytic virus developed using KaliVir’s proprietary Vaccinia Enhanced Template, or VET, platform.
The therapy is designed to selectively replicate inside tumor cells while stimulating local immune activity and altering the immunosuppressive tumor microenvironment.
VET3-TGI expresses IL-12 and a TGFβ inhibitor, giving the therapy multiple mechanisms intended to enhance antitumor immune activity.
The STEALTH-001 study is a first-in-human, open-label Phase 1/1b dose-escalation and expansion trial evaluating VET3-TGI in patients with pathologically confirmed advanced, unresectable or metastatic solid tumors.
The candidate is being evaluated through both intratumoral injection and intravenous infusion.
The trial is testing VET3-TGI as a monotherapy and in combination with atezolizumab.
KaliVir said the study continues to progress as planned through its dose-escalation phase.
The company’s VET platform is built around engineered vaccinia virus backbones that incorporate multiple genetic modifications.
KaliVir designed the platform to support systemic delivery of oncolytic vaccinia candidates while enabling therapeutic transgenes to be expressed selectively within tumors.
The Pittsburgh-based biotechnology company is focused on developing next-generation oncolytic immunotherapies designed to combine direct tumor targeting with immune-system activation.
The latest capital strengthens KaliVir’s balance sheet as the company works toward additional clinical milestones for VET3-TGI and evaluates its potential as a differentiated treatment for advanced solid tumors.
KEY QUOTE:
“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. 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.”
Helena Chaye, PhD, JD, CEO Of KaliVir Immunotherapeutics
