February 15th, 2022
Kallyope, Inc., a leading biotechnology company focused on identifying and developing therapeutics involving the gut-brain axis, today announced the closing of a $236 million Series D financing co-led by Mubadala Investment Company and The Column Group, along with participation from other new and existing investors. The funds will be used to advance the company’s pioneering drug discovery platform, clinical trials, and pipeline of multiple programs across a broad range of therapeutic areas.
“Since our inception six years ago, Kallyope has pioneered research on the gut-brain axis and developed a transformational drug discovery platform with speed and ingenuity. We are now positioned at the forefront of this space,” said Jay Galeota, president and CEO, Kallyope. “We are pleased with the support of an outstanding group of investors who represent a strong vote of confidence in our science and our team.”
Kallyope has built a highly original platform that integrates several sophisticated technologies for the discovery and translation of gut-brain biology. The gastrointestinal tract is the largest and most accessible drug target in the human body. By revealing the connections between the gut and the brain, the Kallyope platform has been leveraged to generate novel programs spanning several relevant therapeutic areas, including metabolism, immunology and inflammation, and central nervous system disorders. A key element of the Kallyope strategy is to target gut and gut-brain physiology with gut-restricted molecules, a fundamentally new approach anticipated to increase the speed and probability of success of drug discovery and development.
“The founding of Kallyope jump-started our journey to build a preeminent biotech, based in New York City, as a first-mover in the gut-brain axis space,” said Nancy Thornberry, founding CEO and chair, Research and Development, Kallyope. “We have assembled and continue to expand a uniquely experienced team with the leadership and talent necessary to realize our potential. Together we are working to translate our discoveries into pioneering therapeutics poised to address major areas of significant medical need.”
Over the past 13 months, Kallyope has advanced four compounds into the clinic in its two lead programs in Type 2 diabetes, obesity, and diseases of the gastrointestinal barrier. With the new funding, Kallyope will continue to move these trials forward, as well as accelerate progress on more than 20 programs and molecules in the pipeline and further invest in the platform to strengthen long-term leadership in this area.
“Mubadala believes it is of vital importance to help build and support life science and healthcare companies, especially those with a strong vision and truly innovative approach,” said Ibrahim Ajami, head, Ventures and Growth, Mubadala. “To date, the medical field has largely overlooked the role of the gut in the development of disease, though this understanding has the potential to unlock key discoveries in novel therapeutics. Kallyope has been dedicated to establishing a differentiated platform by focusing on the gut-brain axis, and they have demonstrated the potential for meaningful impact in areas of significant medical need. We are excited to work with the Kallyope team to advance their programs and, in this new frontier of drug discovery, ultimately improve human health.”
“Having supported Kallyope from their initial financing, we have witnessed first-hand the remarkable growth of their platform and the promise it holds for significant leaps in drug discovery,” said Tim Kutzkey, PhD, managing partner, The Column Group. “We are proud to continue backing the company’s outstanding team and believe their work will have an important impact.”
Kallyope has raised nearly $480 million to date, including a $112 million Series C financing in March 2020. In addition to co-leads Mubadala and The Column Group, Series D participants include previous investors Alexandria Venture Investments, Bill Gates, Casdin Capital, Euclidean Capital, Illumina Ventures, Lux Capital, Polaris Partners, Two Sigma Ventures and StepStone Group. New investors include DNS Capital, Hartford Healthcare Endowment, Parkwood LLC, and Tao Capital Partners.