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

With Metagenomi And Telomir, US Offerings Total Seven

 
• By Mandy Jackson
  
Generate a summary of this article
Listen to this article
Beta

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.

Key Takeaways

  • CAR-T developer Kyverna, focused on autoimmune diseases, launched the second-largest biopharma IPO of 2024, grossing $319m.

Emeryville, CA-based Kyverna sold 14.5 million shares at $22 each on 7 February after first proposing the sale of 11.12...

Scrip Podcast

Keep up with the top pharma business news of the week. On the go.

Scrip brings you a weekly bulletin of top picks.

SpotifyApple PodcastsWebsite

More from Financing

More from Business

  • How A New Healthcare Dialogue Is Driving Market Access In Mexico

    Companies stand a better chance of securing public reimbursement in Mexico for innovative medicines if they understand changing approaches to healthcare. The shift means the emergence of managed entry agreements and a focus on economic impact, explains AMIIF, Mexico's research-based pharmaceutical industry association.

  • How Novartis Is Elevating CVD Outcomes, Driving ‘Personalized Access’ In APMA

    Novartis’s APMA chief outlines the company’s tailored approach to deliver long-term outcomes, novel access solutions via innovative financing options and shape the CVD disease ecosystem in the extraordinarily diverse region. Partnering to build AI infrastructure is another key prong.

  • India Rare Diseases: Court Shows Path For Policy Action, Funding, Price Issues-- Test-2

    A court order encompassing funding, drug pricing, clinical trials and overall policy implementation aspects is expected to bring about a paradigm shift in the treatment of rare diseases in India. Sarepta, Roche and Sanofi are among the key players that have been part of pricing discussions.