Kanglin Biotechnology Secures $20M Series A for Gene Therapy Development

Kanglin Biotechnology (Hangzhou) Co., Ltd., a pioneering biotech firm dedicated to creating advanced gene therapies, has announced the completion of a Series A financing round, securing $20 million. The funds will be allocated to advancing the clinical development of their leading product, KL003, designed to treat beta thalassemia and sickle cell disease. The financing will also enable the company to explore additional therapeutic uses within their development pipeline.

Dr. Haoquan Wu, Chief Executive Officer and Founder of Kanglin Biotechnology, highlighted the potential of their gene therapy to transform the treatment landscape for patients suffering from beta thalassemia and sickle cell disease. Dr. Wu emphasized that their gene therapy could offer a one-time intervention with the promise of a cure, potentially bringing significant changes to the lives of patients burdened by these conditions. He noted that the Phase 1 study and an Investigator Initiated Trial of KL003 for beta thalassemia patients indicated a strong efficacy signal and a favorable safety profile. The study exhibited 100% efficacy in 17 patients, leading to a notably faster achievement of transfusion independence and engraftment. Dr. Wu also pointed out that KL003's clinical performance positions it uniquely among gene therapies, with the added benefit of reduced manufacturing costs compared to existing gene therapies. This cost reduction could make this vital treatment more accessible to patients in need.

KL003 is a lentiviral vector gene therapy designed to deliver a functional ß-globin gene in a single treatment for beta thalassemia and sickle cell disease. The therapy has recently been granted Pediatric Rare Disease Designation and Orphan Drug Designation by the U.S. Food and Drug Administration (FDA). Additionally, in January 2024, the Center for Drug Evaluation (CDE) in China approved the clinical trial application for KL003 cell injection for the treatment of transfusion-dependent beta thalassemia.

Kanglin Biotechnology is a China-based company committed to the research, development, and commercialization of innovative gene therapy drugs. The company's therapeutic focus includes severe health conditions such as beta thalassemia, AIDS, hemophilia, and Parkinson's disease. Their groundbreaking work aims to bring first-in-class and best-in-class treatments to patients, potentially addressing unmet medical needs and improving health outcomes worldwide.

The successful completion of the Series A financing represents a significant milestone for Kanglin Biotechnology, enabling them to progress their pivotal Phase 2 study of KL003 for beta thalassemia, expected to commence in 2025. This advancement underscores the company's commitment to developing transformative therapies and making them accessible to patients suffering from serious genetic disorders.