Jasper Raises $90 Million to Advance Pipeline Targeting Chronic Mast and Stem Cell Diseases

After recently reporting positive data for its experimental therapeutic briquilimab, Jasper Therapeutics priced an underwritten public offering of 60 million shares of its common stock at a public offering price of $1.50 per share, for gross proceeds of approximately $90 million.

In addition, Jasper has granted the underwriters a 30-day option to purchase up to 9 million additional shares of its common stock at the public offering price, less underwriting discounts, and commissions.

Jasper is focused on developing novel antibody therapies targeting c-Kit (CD117) to address diseases such as chronic spontaneous urticaria and lower to intermediate risk myelodysplastic syndromes (MDS) as well as novel stem cell transplant conditioning regimes.

Briquilimab, is a monoclonal antibody targeting c-Kit (CD117) in preclinical development as a therapeutic for chronic mast and stem cell diseases such as chronic urticaria and lower to intermediate risk MDS, and is in clinical development as a conditioning agent for stem cell transplants for rare diseases such as sickle cell disease (SCD), Fanconi anemia (FA), and severe combined immunodeficiency (SCID).

In early January, Jasper reported positive clinical data from a phase 1/2 trial of briquilimab as a conditioning treatment in sickle cell disease and beta thalassemia ahead of allogeneic bone marrow stem cell transplantation in three patients. All three patients had successful engraftment and had no adverse effects related to briquilimab.

Jasper says that to date, briquilimab has a demonstrated efficacy and safety profile in more than 130 dosed subjects and healthy volunteers, with clinical outcomes as a conditioning agent in SCID, acute myeloid leukemia (AML), MDS, FA, and SCD. In addition, briquilimab is being advanced as a transformational non-genotoxic conditioning agent for gene therapy.

Author: Rare Daily Staff