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The newly raised capital will be used to advance the firms portfolio of programs and the company's first clinical trials, further establishing its leadership in the gut-brain axis field. The biotechnology firm focuses on identifying and pursuing therapeutic opportunities involving the gut-brain axis
Fremont, CA: Leading biotechnology firm Kallyope secured USD 112 million in Series C round of financing. The round was participated by previous investors, The Column Group, Lux Capital, Polaris Partners, Euclidean Capital, Two Sigma Ventures, Illumina Ventures, Alexandria Venture Investments, and Bill Gates, and new investors Casdin Capital, Greenspring Associates, and two unnamed leading institutional investors. The newly raised capital will be used to advance its portfolio of programs and the company's first clinical trials, further establishing its leadership in the gut-brain axis field. The biotechnology firm focuses on identifying and pursuing therapeutic opportunities involving the gut-brain axis.
[vendor_logo_first]"Four years ago, we started our journey to build preeminent biotech based in New York City as a first-mover in the gut-brain axis space. Now, this Series C round of financing will enable us to advance multiple programs to clinical development," said Kallyope CEO Nancy Thornberry. "Kallyope pursues programs where the company's platform provides an edge over other approaches and where we have an opportunity to deliver major clinical benefits rather than incremental improvements over current treatments. We are targeting neural and hormonal circuits, including novel vagal circuits, involved in a broad array of physiology and disease."
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The Series C financing round comes soon after four highly productive years, during which the company has built a portfolio of programs directed to novel targets in a wide array of diseases. Supporting these programs, Kallyope has established industry-leading capabilities in designing oral small-molecule drugs that selectively target the gut but not the rest of the body. Kallyope also announced its lead program targeting satiety circuits for weight loss, with clinical testing expected to begin later this year. A second program targeting gut barrier function with potential relevance for inflammatory bowel disease (IBD) and several other diseases is anticipated to enter the clinic soon.
"Kallyope has made significant progress since the company's inception in late 2015. Its platform is enabling a mechanistic understanding of the gut-brain axis, which in turn has revealed new, actionable biology that the company is now exploring in several promising programs. I believe that Kallyope's platform and rigorous approach to identifying, characterizing, and targeting gut-brain circuits with gut-restricted small molecules has greatly increased its odds of success in clinical studies," said Kallyope co-founder and board member Tom Maniatis, Ph.D.
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