Kolltan Approaching First IND Submission For RTK-Targeted Oncology Drug Candidate
This article was originally published in The Pink Sheet Daily
Having raised about $75 million in venture funding since its 2007 inception, Kolltan Pharmaceuticals is getting closer to the clinic with novel oncology candidates targeting receptor tyrosine kinases.
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Never a company known to offer much detail about its plans, Kolltan has raised a $60 million Series D led by an undisclosed global institutional asset manager. Its lead program is in Phase I with the biotech planning a Phase II program combining KTN3379 with other cancer therapies.
Joseph Schlessinger’s insights into receptor tyrosine kinases (RTKs) led to small-molecule treatments and huge success at Sugen and Plexxikon. Schlessinger’s latest venture, Kolltan Pharmaceuticals, had little trouble raising $75 million, but powering up a pipeline of antibodies to target novel RTKs has proven more challenging.
Teva and Lonza agree to dissolve their four-year-old biosimilars joint venture, created at a time when the biosimilars opportunity seemed huge, if vague. In an otherwise slow deal-making week, next-generation antibody platform company Adimab forged two transforming deals with GSK and Biogen, while Kolltan and the Children’s Hospital of Philadelphia plunged into neuroblastoma.