Kither Biotech Raises €18.5 Million Series B and Appoints Dr. Vincent Metzler as Chief Executive Officer
Turin, Italy, 16 March 2022 – Kither Biotech (“Kither” or “the Company”), a biopharmaceutical company developing novel therapies for rare respiratory diseases, today announces that it has raised €18.5 million in a Series B financing round and has appointed current Board Member Dr. Vincent Metzler as Chief Executive Officer.
Proceeds will be used to fund the clinical development of Kither’s lead product KIT2014, a novel cell- permeable peptide for the treatment of cystic fibrosis (CF) that works to modulate cyclic adenosine monophosphate (cAMP) levels inside cells. cAMP levels are directly associated with the pathogenesis of CF including mucus accumulation, inflammation, and bronchoconstriction. KIT2014 is currently being developed as an add-on to the current standard of care enabling improved efficacy by directly focusing on the most significant ailments of CF patients, delivered directly to the lungs as an inhaled therapy. The Company expects to complete pre-clinical studies in 2022 and begin a Phase 1/2A clinical trial of KIT2014 soon thereafter.
The financing round will also enable Kither to begin expanding and diversifying its pipeline of products for the treatment of rare pulmonary diseases by launching the pre-clinical development of KITCL27, a small molecule PI3K inhibitor pro-drug being developed as a monotherapy for idiopathic pulmonary fibrosis.
The fundraise was co-led by new investors Claris Ventures and 2 Invest, with participation from 3B Future Health Fund and Alef 6. Existing investors CDP Venture Capital SGR, Italian Angels for Growth, Ersel, Club degli Investitori and ACE Venture also joined the financing round. Pietro Puglisi, Partner at Claris Ventures and Heikki Lanckriet, CEO of 4BaseBio will join Kither’s Board of Directors.
Kither also announces today the appointment of Dr. Vincent Metzler as Chief Executive Officer, while current CEO Marco Kevin Malisani transitions to the role of Chief Financial Officer and remains a member of the Board of Directors. Dr. Metzler has served on the Board of Directors of Kither since June 2020, bringing more than 20 years of experience in commercial operations in pharma and biotech. Prior to joining Kither, Dr. Metzler was Vice President, Head of Marketing and Commercial Operations, Europe, at immunotherapy company Atara Biotherapeutics, and a member of the Executive Leadership Team of Wilson Therapeutics, a Swedish biotech clinical-stage company.
The Board of Directors will be chaired by Laura Iris Ferro, early investor in Kither and founder of Gentium, acquired by Jazz Pharmaceuticals for $1bn.
Dr. Vincent Metzler, CEO at Kither Biotech, commented: “Kither is committed to developing transformative therapies for patients living with rare pulmonary diseases. The fundraise marks a pivotal moment for the Company as we progress our first product into the clinic and further expand our product pipeline. We are proud to have the support of this high-quality syndicate of investors as we drive forward to our next stage of growth.”