According to Endpoints News, Kyverna Therapeutics, a clinical-stage biotech specializing in CAR-T cell therapy for autoimmune diseases, is reportedly considering an IPO potentially around Valentine’s Day. This information comes from sources who chose to remain anonymous. Kyverna, which has declined to comment, might reveal its IPO filing soon, although plans could change.
The California-based biotech raised over $170 million from investors, including a $60 million Series B extension last August. Its research into CAR-T therapies for autoimmune diseases has been a focus in recent biotech R&D, notably discussed at the American Society of Hematology.
Kyverna’s lead program, KYV-101, an autologous CD19 CAR-T therapy, is being tested for lupus nephritis and has FDA clearance for trials in multiple sclerosis and myasthenia Gravis. They also have an allogeneic cell therapy, KYV-201, in development for autoimmune diseases.
Kyverna’s potential IPO would follow four other biotech filings this year and comes amid a sense of optimism at the JP Morgan Healthcare Conference. The company partners with various entities, including ElevateBio, Oxford Biomedica, and Alphabet’s Verily. This contrasts with the reduced number of biotech IPOs last year compared to 2021, reflecting changing dynamics in the industry and investment trends.
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[Source: Endpoints, January 12th, 2023]