KAHR Medical Raises $12M In Series B Round

December 15, 2015 | Israeli biopharmaceutical company KAHR Medical today announced that it has raised $12 million at the first closing of a $15M Series-B private equity financing. A second closing of the round, in which the additional $3M will be raised, is anticipated to take place prior to February 2016. Proceeds of the new financing will be used primarily to fund the clinical development of KAHR’s lead product, a lymphoma treatment (KAHR-102), which recently received regulatory approval in Israel to initiate a Phase-I/IIa trail. Korea Investment Partners, Mirae Asset Venture Investment and DSC Investment participated in the first closing, along with an existing investor, Flerie Invest AB, a fund controlled by Thomas Eldered, CEO of Swedish drug producer Recipharm. Founded in 2005 and led by CEO Dr. Noam Shani, KAHR is developing a drug platform that is based on the TNF-superfamily of proteins that control the immune system. KAHR’s technology allows the construction of drugs with bi-functional fusion proteins, which enable the drug to block or activate two reinforcing biological signals at the same time. KAHR’s Dual Signaling Proteins (DSP) drug platforms, named DSP-Hexamers and DSP-Clusters, are under development for the treatment of multiple cancer and autoimmune disease indications. The company’s technology is based on 15 years of research by Professor Michal Dranitzki Elhalel, Head of Nephrology at the Hadassah Medical Center, and Professor Mark Tykocinski, Dean of the School of Medicine at Jefferson University in Philadelphia and former Chief of Pathology at the University of Pennsylvania.