NEW YORK – K36 Therapeutics on Thursday said it has raised $30 million in Series A financing that it will use to conduct clinical proof-of-concept studies of its lead therapeutic KTX-1001 in multiple myelomas characterized by the t(4;14) translocation.
The Series A round was co-led by F-Prime Capital and Atlas Venture, with Eight Roads Ventures also contributing funds.
The Cambridge, Massachusetts-based biotechnology firm said it will submit an investigational new drug application to the US Food and Drug Administration for KTX-1001 in first half of 2022. KTX-1001, the IP for which K36 exclusively licensed from Novartis, is designed to inhibit the histone methyltransferase MMSET, which is overexpressed in 20 percent of multiple myeloma patients who harbor the t(4;14) translocation.
"We are developing KTX-1001 to provide a targeted therapy that specifically addresses the underlying cause of cancer for these multiple myeloma patients," K36 President and CEO Terry Connolly said in a statement. "KTX-1001 will be the first therapeutic agent to enter the clinic that directly targets overexpression of MMSET."