Kither Biotech, born as a spin-off of Università degli Studi di Torino, is on biopharmaceutical company involved in the study of new therapies for the treatment of rare respiratory diseases. In these days Claris Ventures and 2Invest have conducted a series B financing round with a total raising of 18.5 million euros, thanks to the participation of 3B Future Health Fund, Alef 6, CdP Venture Capital, Italian Angels for Growth, Ersel, Club degli Investitori and Ace Venture.
The amount that has been raised will fund the clinical development of Kit2014, Kither Biotech's main product used in therapies for the treatment of cystic fibrosis: this drug is able to regulate the levels of substances associated with the onset of cystic fibrosis, reducing mucus accumulation, inflammation and bronchoconstriction. Kit2014 is administered via inhalation therapy, so it is targeted directly to the lungs, and during current testing, alongside standard therapy, it has shown improvement in reducing discomfort in cystic fibrosis patients. As a result of this round, Kither Biotech expects to complete this preclinical study phase by the end of this year and begin clinical trials in 2023, and to grow its product portfolio by initiating the preclinical study of Kitcl27, a drug for monotherapy against idiopathic pulmonary fibrosis.
Vincent Metzler, new CEO of Kither Biotech, commented, "This fundraising marks a pivotal moment for the company as we advance our first product into the clinic and further expand our product pipeline. We are proud to have the support of this syndicate of high quality investors as we move forward into our next phase of growth."
Marco Kevin Malisani, co-founder of Kither Biotech and former CEO now new CFO and Board member, added: "This funding round represents a transformational moment for Kither, further strengthening our shareholder base and management team. Starting as an academic spin-off from Università di Torino e Novara , we have been able to attract a number of established investors: this is a clear demonstration of our cutting-edge science. I am also pleased to welcome the appointment of Dr. Vincent Metzler as CEO: his extensive international pharmaceutical experience will be precious as we accelerate the development of our promising therapeutic candidates."
Two representatives of the investors who led the round will sit on the Board of Kither Biotech, chaired by Laura Iris Ferro: Pietro Puglisi, Managing Partner of Claris Ventures and Heikki Lanckriet, CEO of 4BaseBio.
Pietro Puglisi commented on the round together with Hansjörg Plaggemars, CEO of 2Invest: "We are excited to support Kither Biotech as it prepares to enter the clinic with its lead candidate Kit2014. This is a very exciting time for the company and we welcome the appointment of Dr. Metzler, a highly experienced executive, as CEO. With its high-quality science, experienced management team and strong investor syndicate, Kither Biotech is ideally positioned to accelerate the clinical development of its therapies to benefit millions of patients with rare respiratory diseases".
