KisoJi Biotechnology closes $41M funding round
Summary
CPE News (12.2.2024) KisoJi Biotechnology Inc., a company focused on the discovery and development of transformative antibody therapeutics, has raised $41 million in equity, including the conversion of previously funded convertible debentures. The financing was led by Investissement Quebec and Lumira Ventures with participation by Fonds de solidarite FTQ, adMare BioInnovations, and Remiges Ventures.These funds will be used to advance its lead asset, KJ-103, the first potent naked antibody against TROP2, into the clinic to treat solid tumours. Funds will also be used to deploy its cutting-edge antibody discovery platform towards new multi-specific therapeutic antibody drugs in cardiometabolic disease, as well as immunology and inflammation.KisoJi is led by CEO and co-founder Dr. David Young, former founder of ARIUS Research Inc. (acquired by Roche in 2008).The Kisoji (, Kisoji) was an old trade route in the Kiso Valley that stretched from Niekawa-juku in Nagano Prefecture to Magome-juku in Gifu Prefecture. (source: Wikipedia)KisoJi Biotechnology Raises $41 Million to Advance Lead Program Into the Clinic and Deploy AI Tools Into Key Pipeline IndicationsMONTREAL, Dec. 2, 2024 /CNW/ KisoJi Biotechnology Inc., a company focused on the discovery and development of transformative antibody therapeutics, announces that it has raised $41 million in equity, including the conversion of previously funded convertible debentures. This funding will allow KisoJi Biotechnology to hit critical milestones in its operations, from completing preclinical activities to launching clinical trials, notably through a landmark agreement with Cancer Research UK, one of the worlds largest funders of cancer research, all the while helping move innovations from the R&D stage to the marketplace.Daniel H\xe9tu, Managing Director, Lumira Ventures, said: KisoJi has built a truly differentiated, AI enabled and comprehensive antibody discovery platform leveraging the deep expertise of their team that spans transgenic mice, single-domain antibodies and AI.