Kainova Therapeutics has closed a Series B financing round of C$32m.
The investment supports the clinical advancement of its GPCR-targeting therapies. Lead asset DT-7012, a Treg-depleting anti-CCR8 antibody, is progressing in the ongoing phase I/II DOMISOL trial for the treatment of solid tumours. The company is also advancing other GPCR-targeting therapies, including DT-9081, an EP4 antagonist for solid tumours and DT-9046, a small molecule biased antagonist of PAR2 for inflammatory conditions, further positioning Kainova as a leader in global precision medicine.
Sean A. MacDonald, CEO of Kainova Therapeutics, said: “I am delighted to welcome Investissement Québec as a new investor in Kainova and deeply appreciate the continued commitment from our investors. This financing is a strong endorsement of our distinctive scientific strategy, our leadership in GPCR innovation, and our well-defined pipeline of high-value programmes with significant commercial potential. Securing this investment is especially significant given the current challenging fundraising environment, but exceptional science is still rewarded, and Kainova Therapeutics remains focused on advancing its robust clinical pipeline of GPCR targeting therapies and delivering breakthrough treatments for patients worldwide.”
The round was led by Investissement Québec and was supported by existing investors CTI Life Sciences, Panacea Venture, 3B Future Health Fund, Seventure Partners, Viva BioInnovator, Turenne Capital, Schroders Capital, adMare BioInnovations, and Seido Capital.