Kernal Biologics Announces $25 Million Series A Financing to Advance its Oncology mRNA
Gunderson Dettmer represented client Kernal Biologics, a Massachusetts-based biotech company, in its $25 million Series A financing led by Hummingbird Ventures with participation from Amgen Ventures. Kernal aims to develop mRNA beyond COVID 19 and vaccines and focus on treating cancer patients with as few side effects as possible. The new capital will be used to expand the mRNA platform and advance the filing of application that will alow to start testing immune-oncology candidate in humans.
In the announcement of the transaction, Co-founder and CEO of Kernal Biologics Yusuf Erkul said, "There's a major unmet need to improve outcomes for cancer patients and Kernal Bio has built a strong rational for the use of its novel mRNA technology in cancer therapeutics. This financing further validates that rational. Our breakthrough onco-selective mRNA approach can enable specific protein expression in malignant cells, widening the therapeutic window of mRNAs in oncology."
The Gunderson Dettmer deal team was led by Tim Ehrlich and included Jen Lichtman and Ali Blum.