Israel-based cancer immunotherapy developer Kahr Medical has raised $18m in funding from investors including Hadasit Bio-Holdings, the publicly-listed drug commercialisation arm of healthcare provider Hadassah University Hospital.
The round was led by venture capital firm Flerie Invest and included Mirae Asset Venture Investment, Oriella and Pavilion Capital. It is expected to close next month.
Kahr is developing immuno-oncology drugs intended to spur the body’s immune system into fighting the disease. The capital will enable it to conduct a phase 1/2 clinical study for its lead candidate, DSP107, in solid tumours and advance its preclinical pipeline.
The company had secured $12m in a 2015 series B round featuring Mirae Asset Venture Investment, Flerie Invest, DSC Investment and Korea Investment Partners.
The series B followed $2.6m from Hadasit Bio Holdings, pharmaceutical firm Sanofi and Thomas Eldered in 2012 at a $11m pre-money valuation. The former two had also backed a $3m round the previous year.