Second fundraising round for KalVista Pharmaceuticals. Besides already existing investors, the British company got Longwood Fund & Venrock and RA Capital Management on board. The latter contributed most to the $33M, that pay up the advancement of KalVista’s serine protease inhibitors.
UK-based KalVista, which also acts from Boston, is dedicated to the development of small molecule serine protease inhibitors. Its lead candidate is a plasma kallikrein inhibitor, designed to treat diabetic macular edema. After completing its first-in-human study, on which we reported last year, KalVista wants to initiate Phase II trials in 2016. For that and other purposes, KalVista just raised $33M (€30M).
The Series B financing was supported by the existing investors Novo A/S and SV Life Sciences and by supervening investors Longwood Fund & Venrock and RA Capital Management. The latter companies both captured a seat in KalVista’s Board of Directories.
This financing will allow us to rapidly advance our programs in diabetic macular edema and hereditary angioedema towards important clinical proof of concept milestones,” stated KalVista CEO Andrew Crockett. “We are now in a very strong position to drive the growth of KalVista, and achieve the full potential of our therapeutic pipeline.“
To do this, KalVista is working towards an oral treatment of its inhibitors as well as using them against further therapeutic targets. These could be cerebral hemorrhage and several complications of diabetes.
With the initiation of Phase II of KalVista’s diabetic macular edema treatment, the company takes a fine step forward. The disease leads to swelling of the retina and is a major cause of vision loss in diabetes patients. Hopefully, we can soon report about the beginning of Phase III.