Kira Biotech, a Brisbane, Australia-based immunology company, secured A$20m in Series A funding.
The round was led by OneVentures, IP Group and the Advance Queensland Business Development Fund.
The company intencds to use the funds to advance its lead candidate KB312 through phase 1 human studies.
Led by Dr Dan Baker, founding CEO, Kira Biotech is a biotechnology company developing novel immunomodulatory compounds for the treatment of immune system disorders, such as rheumatoid arthritis, systemic lupus erythematosus and type 1 diabete.
KB312 is an antibody with a novel target that is common to many immune system disorders and is key to restoration or induction of immune tolerance. The company is progressing KB312 through preclinical development and phase 1 clinical trials with a team of drug development experts led by Dr Baker.
The research program is based on decades of research led by the late Professor Derek Hart and Associate Professor Georgina Clark.