Canadian biotech firm KisoJi Biotechnology has raised $41m in equity financing, including the conversion of previously funded convertible debentures.
The financing was led by Investissement Quebec and Lumira Ventures with participation from Fonds de solidarite FTQ, adMare BioInnovations, and Remiges Ventures.
KisoJi intends to use the funds to advance its lead asset, KJ-103, the first potent naked antibody against TROP2, into the clinic to treat solid tumours.
Also, the company plans to deploy its antibody discovery platform for new therapeutic antibody drugs in cardiometabolic disease, along with immunology and inflammation.
Investissement Québec president and CEO Bicha Ngo said: “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 world’s largest funders of cancer research.”
Lumira Ventures managing director Daniel Hétu said: “Lumira is proud to have supported the development of KisoJi’s innovative platform from its inception and we look forward to continuing to work with the company and our co-investors as KisoJi transitions its propriety programs to the clinical stage.”
Fonds de solidarité FTQ life sciences private equity and impact investing vice-president Maxime Pesant said: “The Fonds de solidarité FTQ is proud to reiterate its commitment to KisoJi, an innovative company of which we have been partners from the very beginning alongside Lumira.”
KisoJi has established a clinical development partnership with Cancer Research UK to advance its lead asset, KJ-103, into a first-in-human clinical study in nearly 100 patients.
Unlike existing TROP2-targeting drugs, which are antibody-drug conjugates (ADCs), KJ-103 does not require a cytotoxic payload but recruits immune cells to kill tumour cells.
The company’s antibody discovery platform includes the antibody paratope map, dubbed KisoSeek, which visualises an immune response against a given target.
KisoJi has also developed a suite of camelid transgenic mice, known as KisoMouse, to generate single-domain antibodies for populating its antibody database.
KisoSeek and KisoMouse can be used to generate advanced multi-specific antibodies using the company’s modular multi-specific antibody format (KisoBody).
KisoBody can be customised and manufactured with tri-specific antibody titers at more than 6g/L in commercial production cell lines.
Evolution Venture Partners served as the exclusive strategic advisor to KisoJi on the transaction.
KisoJi co-founder and CEO David Young said: “Through the support of our new and existing investors, this financing will enable KisoJi to continue its development of pipeline assets in oncology, cardiometabolic and immunology indications using our cutting-edge platform and AI tools.”
