Israeli Cancer Treatment Company Kahr Medical Raises $18M

Israeli biopharma firm Kahr Medical, a company developing a novel drug platform based on bi-functional, immunotherapeutic fusion proteins, announced this week that it has raised $18 million from a group of global investors.

The round was led by Flerie Invest AB, Oriella Ltd., Hadasit Bio-Holdings Ltd., a biotechnology company owned by the Hadassah University Hospital in Jerusalem, Pavilion Capital Pte Ltd., and Mirae Asset Venture Investment Co. Ltd.

Founded in 2015, Kahr Medical develops immuno-oncology drug candidates for the treatment of multiple types of cancer. The company said the funding will be used to advance a number of projects, including the clinical development of its lead product DSP107, an anti-CD47 therapy for the treatment of solid tumors, through a Phase I/II study.

“We look forward to using this funding for advancing our next-generation immuno-oncology pipeline for the benefit of patients, who are non-responsive or refractory to existing immunotherapies,” said Yaron Pereg, Ph.D., CEO of Kahr Medical.

“We are excited to lead this financing round for Kahr Medical together with other distinguished investors,” said Thomas Eldered, chairman of Flerie Invest AB. “Despite advances in the treatment of cancer, there is still a clear need for additional therapies to broaden the patient population that will respond to cancer immunotherapies. We look forward to supporting Kahr Medical in developing effective treatments for cancer patients.”