K36 Therapeutics Raises $70 Million to Fund Clinical Proof of Concept of Rare Cancer Treatment

Rare Daily Staff

K36 Therapeutics said it raised $70 million in a series B financing to fund development of KTX-1001, its investigational therapeutic to treat multiple myeloma patients with genetic translocation, a rare cancer.

Nextech Invest led the financing on behalf of one or more funds it manages, with participation from Bristol Myers Squibb and other undisclosed investors. Existing investors Atlas Venture, F-Prime Capital, and Eight Roads Ventures participated in the round.

KTX-1001 is a novel, first-in-class, potent, and selective catalytic inhibitor of the H3K36 methyltransferase MMSET. It is an orally administered small molecule being developed initially for treating relapsed and refractory multiple myeloma, focusing on patients with the genetic translocation t(4;14).

A phase 1 clinical trial in adult subjects with relapsed and refractory multiple myeloma is ongoing. The phase 1 clinical trial is a single-arm, open-label, multi-part study with dose escalation followed by an expansion cohort in patients with the genetic translocation t(4;14) to evaluate the safety, tolerability, and preliminary efficacy of different doses of KTX-1001.

The new funding will support the ongoing phase 1 study of KTX-1001, planned clinical studies of KTX-1001 in combination with existing standard-of-care agents in multiple myeloma, and the expansion of KTX-1001 into additional hematological and solid tumor indications.

“We are committed to developing KTX-1001 for t(4;14) multiple myeloma patients, a large patient population with chronic disease who are relatively unresponsive to existing and emerging therapeutics,” said Terry Connolly, CEO of K36 Therapeutics.

In conjunction with the series B financing, Melissa McCracken, partner at Nextech, will join K36’s Board of Directors.

Photo: Terry Connolly, CEO of K36 Therapeutics