The finding catalyzes Kalos’ initial public offering on the Frankfurt, Germany, stock exchange.
Since headquartering in Phoenix, Kalos was featured on the BIO International StartUp Stadium, where it presented to global bio- and life-science investment groups. The investment by GEM Global Yield LLC SCS, a private alternative investment group, funds Kalos Therapeutics, Inc. over a 36-month term following the public listing of common stock.
Kalos Therapeutics plans to use the funds to advance its three preclinical programs into clinical development and broaden the pipeline based on its proprietary, small peptide technology.
“Kalos is positioned to move the first three drug candidates forward into clinical development, based on the agreement with GEM,” announced George Colberg, Chief Executive Officer of Kalos Therapeutics.
Kalos Therapeutics controls the timing and a maximum number of drawdowns under this facility and has no minimum drawdown obligation. Concurrent with a public listing of Kalos Therapeutics’ shares, Kalos Therapeutics will issue warrants to GEM to purchase up to 9.9% of the company’s common stock.
Kalos Therapeutics anticipates a proof-of-concept study to be completed in canines and to leverage that data to advance the pancreatic cancer indication.
This approach will allow for revenue in the next 24-36 months from out-licensing agreements to allow the development of a canine cancer product in a virulent canine cancer with outcomes similar to human pancreatic cancer. This project’s success will also provide ongoing revenue to Kalos Therapeutics in the form of royalties.
Kalos Therapeutics will, in parallel, advance its pancreatic cancer candidate, KTH-222, for which it has already secured an Orphan Drug designation, into clinical development and will explore its utility in treating Metastatic disease. Kalos will also seek to ensure an FDA-designated Breakthrough Therapy designation for the use of KTH-222 in other rare and orphan cancers.
Kalos further plans to develop therapeutics for use against COVID-19. Early data show its peptides’ ability to block the virus’s binding to its receptor on human cells. This activity can inhibit infectivity or reduce the severity of symptoms in those who are infected. Also, this mechanism shows promise to be more effective than vaccines when treating immunocompromised patients and could be more resistant to being circumvented by virus mutations.
“We are very excited to advance this unique technology, which has shown much promise in basic research studies, into clinical development,” stated Dr. Michael R. Kozlowski, CSO for Kalos Therapeutics. “And we look forward to seeing it used to help patients suffering from a number of serious diseases.” About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, an alternative investment group with offices in Paris, New York, and Los Angeles.
Content by Eric Jay Toll for PHXNewsroom with additional content from Kalos Therapeutics
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