Kira Biotech Secures AUD 20 Million Series A Funding to Advance Novel Therapy for Refractory Immune Disorders

On November 1, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Kira Biotech announced the completion of a A$20 million Series A financing round. This round was jointly invested by OneVentures, IP Group, and the Advance Queensland Business Development Fund.

This round of financing will be used to advance Kira Biotech’s lead candidate, KB312, through Phase I clinical trials, with the aim of developing new therapies for refractory immune system diseases.

Kira Biotech is an emerging biotechnology company in Australia dedicated to developing novel immunomodulatory compounds for the treatment of immune system disorders. Kira Biotech’s research program focuses on immune tolerance and targets cells and pathways that serve as key activators of the immune response in patients with autoimmune diseases such as rheumatoid arthritis, systemic lupus erythematosus, and type 1 diabetes. To date, Kira Biotech has advanced the development of KB312 through preclinical studies and Phase I clinical trials, in collaboration with a team of drug development experts led by Dr. Dan Baker, a U.S.-based specialist in rheumatology and immunology.

KB312 is a first-in-class, selective monoclonal antibody that induces the depletion of specific immune cells by targeting a novel antigen. This target is commonly implicated in various immune system disorders and plays a key role in restoring or inducing immune tolerance. KB312 is designed to restore homeostasis by inducing immune tolerance.

Dr. Dan Baker, Founder and CEO of Kira Biotech, stated, “Unlike existing therapies that broadly target immune cells, Kira’s antibodies are directed at specific cell populations. KB312 mitigates the adverse effects of broad immunosuppression while preserving beneficial immune cells, thereby protecting patients from infections and malignancies.”

Kira Biotech will also actively seek other drug candidates to address transplant complications arising in graft-versus-host disease and rejection associated with heart and kidney transplantation.

Kira Biotech’s research program is built upon decades of research led by the late Professor Derek Hart and Associate Professor Georgina Clark. Associate Professor Georgina Clark stated, “The launch of Kira Biotech’s biotechnology highlights the tremendous efforts made by many dedicated scientists to translate research findings from the bench to the bedside. KB312 exemplifies Australian technology, with its differentiated therapeutic approach holding potential global health implications.”

According to statistics from the American Autoimmune Related Diseases Association, more than 50 million Americans are affected by autoimmune diseases. The National Institutes of Health estimates that the annual direct costs of these diseases amount to approximately $100 billion.

OneVentures is one of Australia’s leading venture capital firms. Established in 2006 and headquartered in Sydney, Australia, the firm primarily invests in early-stage innovative technology and healthcare companies, managing nearly AUD 400 million in assets.

IP Group is an intellectual property (IP) commercialization company, founded in 2001 and headquartered in London, UK. The core business of IP Group is to create value for its shareholders and partners by commercializing intellectual property from research-intensive institutions.

The Advance Queensland Business Development Fund is a business development and investment entity based in Queensland, Australia, focused on investing in innovative startups. By providing early-stage co-investment funding, it fosters the growth of a sustainable private market for venture capital financing in Queensland.

(Compiled by Wang Fang)