1. Scrip
  2. >>Business
  3. >>Financing

IPO Gives Kyverna Cash To Maintain Lead In Autoimmune CAR-T Development

With Metagenomi And Telomir, US Offerings Total Seven

 
• By Mandy Jackson

Kyverna CEO Peter Maag spoke with Scrip about the company’s five-year overnight success after its well-received IPO. Metagenomi and Telomir also went public in the US in smaller offerings.

Kyverna CEO Peter Maag
Kyverna CEO Peter Maag was in New York for the company's IPO • Source: Kyverna Therapeutics Inc.

Kyverna Therapeutics Inc. took advantage of the growing excitement for chimeric antigen receptor T-cell (CAR-T) therapies in the treatment of autoimmune diseases by raising $319m in an initial public offering – the second-largest of the seven biopharmaceutical IPOs so far in the US this year. The proceeds will fund ongoing and planned clinical trials for its lead CAR-T candidate, CD19-targeting KYV-101, in the treatment of lupus nephritis, systemic sclerosis, multiple sclerosis and myasthenia gravis.

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required
Start Free Trial

Already a subscriber?

More from Financing

Finance Watch: Biopharma Sees An Early April VC Mega-Round Surge

 
• By Mandy Jackson

Private Company Edition: After Q1 venture capital investment slumped relative to 2024 totals due to declines in both smaller financings and mega-rounds, Q2 started off with six $100m-plus financings in the first half of April after there were only three in February and six in all off March.

Glycomine Funds Phase IIb Rare Disease Trial With $115m Series C

 
• By Mandy Jackson

Lead drug GLM101 will move into its first placebo-controlled trial based on positive results in adults and adolescents with PMM2-CDG in an open-label Phase IIa study.

Biotech Leaders Ponder Tariff Ramifications

 
• By Joseph Haas, Mary Jo Laffler, and Jessica Merrill

Several biotech execs said they don’t expect much impact from the Trump administration’s threatened tariffs but are reviewing business practices to prepare.

Q1 VC Financings Fall Short As Early Deals, Mega-Rounds Dip

 
• By Mandy Jackson

Evaluate data show that biopharma companies raising cash in the smallest and largest categories of venture capital financings struggled to meet bars set in prior quarters.

More from Business

The Silver Lining Of The US Pharma Security Investigation

 
• By Jessica Merrill

An investigation by the US Secretary of Commerce into pharmaceutical imports gives industry an opportunity to comment. AAM CEO John Murphy talked to Scrip about the latest developments.

Deal Watch: Oak Hill Picks Up Where Roche Left Off In Angelman Syndrome

 
• By Joseph Haas

Plus deals involving Spruce/BioMarin, Boehringer Ingelheim/Cue, Onconetix/Ocuvex, Allakos/Concentra, Sanofi/Nurix, Pfizer/Flagship Pioneering, Alcon/Aurion and more.

Taxes, Not Tariffs, Influence US Manufacturing, J&J CEO Says

 
• By Jessica Merrill

The big pharma forecast a $400m expense this year related to tariffs, but those estimates only reflect medtech tariffs already announced, not potential pharma tariffs.