Kyverna Therapeutics closes $85 million Series B financing
US autoimmune drug developer Kyverna Therapeutics today announced it has closed an oversubscribed $85 million Series B financing round led by Northpond Ventures.
Additional investors included the company’s founding investors Westlake Village BioPartners, Vida Ventures, and Gilead Sciences (Nasdaq: GILD), with new investors RTW Investments, CAM Capital, Insight Partners, HealthCor, LYFE Capital, Intellia Therapeutics (nasdaq: NTLA), Argentum Peak, Hudson Bay Capital, and jVen Capital.
Proceeds from the financing will be used to advance KYV-101, an autologous version of a novel clinical-stage anti-CD19 chimeric antigen receptor T-cell (CAR T) construct with properties uniquely suited for use in B cell-driven autoimmune diseases such as lupus nephritis, systemic sclerosis, and inflammatory myopathies. Kyverna has obtained exclusive, worldwide licenses from the National Institutes of Health (NIH) to use this novel CD19 construct in both autologous and allogeneic CAR T-cell therapies. Kyverna intends to advance KYV-101 into clinical development for autoimmune diseases in the first half of 2022.
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