Kanvas Biosciences Raises $12.5M to Advance Microbiome-Based Cancer Drugs to IND Filing

Kanvas Biosciences, a pioneering spatial biology company based in Princeton, New Jersey, has successfully secured an additional $12.5 million in funding. This recent financial boost, co-led by existing investors DCVC and Lions Capital LLC, along with contributions from FemHealth Ventures, Germin8, Ki Tua Fund, and Pangaea Ventures, brings the company's total funding to $29.5 million. The milestone will enable Kanvas Biosciences to continue developing its innovative spatial biology platform and advance two significant therapeutics, KAN-001 and KAN-003, within its Immuno-oncology Program.

The company's proprietary spatial biology platform enables the spatial mapping of gene expression and cellular function across various life forms, revolutionizing the understanding of host-microbiome interactions. This advanced technology holds promise for breakthroughs in drug development, clinical diagnostics, agriculture, and food safety. By illuminating the complex interactions within microbiomes, Kanvas Biosciences aims to unlock the therapeutic potential of microbiome-based treatments.

Kanvas Biosciences' platform is set to play a crucial role in designing live biotherapeutic products (LBPs), which leverage microbiome data to create novel therapies. The lead drug candidate, KAN-001, is an LBP showing significant potential for improving outcomes in cancer patients who have been resistant to immune checkpoint inhibitors (ICIs). The company has also developed KAN-003, a defined consortium for cancer patients to be administered just before starting ICI treatment. These innovations are designed to enhance the percentage of patients responding to ICIs across all approved cancer types.

Kanvas Biosciences is collaborating with The University of Texas MD Anderson Cancer Center and its Platform for Innovative Microbiome and Translational Research (PRIME-TR) to conduct preclinical studies for KAN-001. The goal is to optimize the drug's formulation and prepare it for an Investigational New Drug (IND) filing in 2025, with clinical trials expected to commence the same year.

Matthew Cheng, co-founder and CEO of Kanvas Biosciences, expressed pride in the team's progress and optimism for the company's future growth. He emphasized the potential of their platform to launch a clinical pipeline of precision microbiome therapeutics, enhancing the efficacy of immunotherapy for solid organ cancers.

The LBP market is projected to grow significantly, reaching over $3 billion by 2031 with a 21% compound annual growth rate (CAGR). LBPs, which are living microbes, offer a promising avenue for treating microbiome-addressable conditions such as solid organ cancer, inflammatory bowel disease, and metabolic disorders. Traditional approaches to LBP development have been limited by their focus on single bacterial strains or complex fecal microbiota transplants (FMTs), which present scalability and variability challenges. In contrast, Kanvas's ability to develop and manufacture complex microbial consortia, containing 148 bacterial strains, provides a more effective therapeutic approach.

Jason Pontin, General Partner at DCVC and chair of Kanvas's board, highlighted the company's potential to provide a better mechanistic understanding of microbiome-addressable conditions. This understanding, coupled with their manufacturing capabilities, positions Kanvas to improve clinical success for the next generation of LBPs.

Dr. Ashlie L Burkart, Chief Scientific Officer of Germin8 Ventures and board observer, echoed this sentiment, emphasizing the broader implications of Kanvas's technology beyond human health, including animal health and agriculture. Understanding microbes in these areas is vital for global health and sustainability.

Over the past year, Kanvas has experienced significant growth, marked by the opening of a new research laboratory and drug manufacturing facility in South San Francisco. The company has also expanded its leadership team with key hires, including Lee Swem as Chief Development Officer, Steve Kujawa as Vice President of Business Development, and Kevin Cutler as Lead Scientist with AI expertise. These additions are expected to enhance the company's capabilities in executing its LBP portfolio and advancing its spatial biology platform.