Callio Therapeutics has raised $187m in a Series A financing round to achieve clinical proof-of-concept for its human epidermal growth factor receptor 2-targeted dual-payload antibody-drug conjugate (ADC) and a second undisclosed ADC programme.
Frazier Life Sciences led the financing round with substantial contributions from Jeito Capital and other investors including Omega Funds, Novo Holdings, ClavystBio and Pureos Bioventures.
Callio Therapeutics CEO and co-founder Piers Ingram stated: “We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells and may provide significantly enhanced efficacy.
“This new generation of ADC therapies may meaningfully improve outcomes for patients.”
With headquarters in Seattle and Singapore, the newly launched Callio aims to transform cancer therapy by overcoming the limitations of existing single-payload treatments.
The capital injection will support the company’s mission to enhance therapeutic outcomes for cancer patients.
Callio’s approach allows for the targeted delivery of rational drug combos to tumour cells.
In line with the Series A financing, Callio has announced an exclusive global licensing agreement with Singapore-based Hummingbird Bioscience for the multi-payload ADC platform, intellectual property, and pipeline assets in oncology in return for royalties, equity and potential milestone payments.
Rachel Mears from Jeito is joining Callio’s board of directors.
Callio’s differentiated multi-payload ADC platform is in line with Jeito’s strategy to support biopharma companies that are poised to develop next-generation therapies.
Jeito Capital founder and CEO Dr Rafaèle Tordjman stated: “At Jeito, we believe that strategic collaborations and bold innovation are key to accelerating the next generation of targeted therapies, and we look forward to working alongside the Callio team to bring these advances to patients in need.”
ADC content on Pharmaceutical Technology (Or Clinical Trials Arena) is supported by Syngene. Editorial content is independently produced and follows the highest standards of journalistic integrity. Topic sponsors are not involved in the creation of editorial content.
