Country for PR: United Kingdom
Contributor: PR Newswire Europe
Wednesday, February 26 2020 - 11:30
KAHR Medical Raises $18 Million in Private Funding Round
JERUSALEM, Feb 26, 2020 /PRNewswire-AsiaNet/ --

Funds will be used for advancing the Company's next generation immuno-oncology 
drug candidates, including lead anti-CD47 product for the treatment of solid 
tumors through Phase I/II study in addition to advancing preclinical pipeline

KAHR Medical [] Ltd., a biopharmaceutical company 
developing a novel drug platform based on bi-functional, immunotherapeutic 
fusion proteins known as Dual Signaling Proteins ("DSP") today announced that 
it has raised US$18 million from a global syndicate of leading investors. 
Completion of the financing round is subject to customary closing conditions 
and is expected to occur early next month.

The round was led by Flerie Invest AB, Oriella Limited, Hadasit Bio-Holdings 
(HBL), Pavilion Capital and Mirae Asset Venture Investment. Proceeds will be 
used for advancing the Company's next generation immuno-oncology drug 
candidates including the clinical development of the Company's lead product, 
DSP107, an anti-CD47 therapy for the treatment of solid tumors through a Phase 
I/II study and the preclinical advancement of additional pipeline projects.

In September 2019, KAHR Medical announced a clinical collaboration with Roche 
to evaluate KAHR Medical's lead program, DSP107, a SIRPa-41BBL DSP, in 
combination with Roche's PD-L1-blocking checkpoint inhibitor atezolizumab 
(Tecentriq®) in patients with advanced NSCLC who are refractory to existing 
immune checkpoint inhibitors. KAHR Medical expects to begin a Phase I/II trial 
in H2 2020 at leading sites in the US to evaluate DSP107 as a monotherapy and 
in combination with atezolizumab, following the filing of an Investigational 
New Drug (IND) application with the U.S. Food Drug Administration (FDA).

"We are grateful to our existing investors for their continued support and are 
pleased to welcome Oriella, a prominent private equity and technology investor 
in Israel, with an expanding focus on life sciences," said Yaron Pereg, Ph.D., 
CEO of KAHR Medical. "We are also proud to have Pavilion Capital join our 
investor base. Pavilion Capital brings a track record of success and expertise 
in the biopharmaceutical sector. We look forward to using this funding for 
advancing our next-generation immuno-oncology pipeline for the benefit of 
patients, who are non-responsive or refractory to existing immunotherapies." 

"We are excited to lead this financing round for KAHR Medical together with 
other distinguished investors," said Thomas Eldered, Chairman of Flerie Invest 
AB. "Despite advances in the treatment of cancer, there is still a clear need 
for additional therapies to broaden the patient population that will respond to 
cancer immunotherapies. We look forward to supporting KAHR Medical in 
developing effective treatments for cancer patients."  

Mr Vincent Tchenguiz, a British entrepreneur and beneficiary of the trust that 
owns Oriella commented, "We recognize the strength of KAHR Medical's 
proprietary platform and believe that the company's products have the potential 
to offer unique value to patients suffering from cancer. We are keen to work 
with the Company as it matures, and we look forward to helping it fulfil its 
mission of bringing new therapies to cancer patients."

Timothy Low, Head of Healthcare Investments, Pavilion Capital, said, "We are 
delighted to join KAHR Medical's syndicate of investors, and believe the 
company has a tremendous opportunity to contribute new targeted therapies to 
the field of immuno-oncology."  

Michel Habib, CEO of HBL, stated, "HBL has been supporting KAHR Medical since 
its inception and we are very pleased with the company's impressive 
development. We are proud to continue to support the company together with 
other existing and new global investors and look forward with anticipation to 
the beginning of clinical trials." 

About DSP107 and the Phase I/II study
DSP107 targets CD47-overexpressing tumors, simultaneously blocking macrophage 
inhibitory signals and delivering an immune costimulatory signal to tumor 
antigen-specific activated T-cells.  CD47 is overexpressed on many cancer cells 
and binds SIRPa on immune phagocytic cells to produce a "don't eat me" signal.  
DSP107 binds CD47 on cancer cells, blocking interaction with SIRPa and thus 
blocking the "don't eat me signal".  Simultaneously, DSP107 binds 41BB on 
T-cells, stimulating their activation. These activities lead to targeted immune 
activation through both macrophage and T-cell mediated tumor destruction.  In 
combination with atezolizumab, DSP107 has the potential to enhance anti-tumor 
immune response.  

The planned Phase I/II study will evaluate the safety, pharmacokinetics (PK) 
and pharmacodynamics (PD) of DSP107 in advanced solid tumors. The safety and 
preliminary efficacy of both DSP107 monotherapy and combination therapy with 
atezolizumab will be evaluated in patients with advanced NSCLC who are 
refractory to PD-1/PD-L1 inhibitors. KAHR Medical will be the sponsor of the 
study and Roche will provide the clinical supply of atezolizumab.

About KAHR Medical 
KAHR Medical develops the next generation of immuno-oncology drug candidates 
for the treatment of multiple types of cancer. Its proprietary technology 
enables the construction of targeted bi-functional biological drugs generated 
by fusion of the active extracellular domains of a TNF-SF ligand and a type-I 
membrane protein. DSPs have two functional ends, which can simultaneously block 
and/or activate two reinforcing biological signals resulting in a synergistic 
outcome.  The unique DSP composition ensures target activation and increased 
potency by assembling a high multimer protein structure which is essential for 
activation of the TNF receptor family.  For more information, please visit

Company contact:
Tsipi Haitovsky
Global Media Liaison
KAHR Medical