Bio-tech company KAHR Medical Ltd., established by Hadasit Bio Holding (TASE: HDST), raised $12 million in a first tranche closing of a Series B funding round.

Korea Investment Partners, Mirae Asset Venture Investment and DSC Investment, participated in the first closing, along with an existing investor, Flerie Invest AB, a company controlled by Thomas Eldered, CEO and a major shareholder in Recipharm (RECI-B.ST), one of the largest pharmaceutical Contract Development and Manufacturing Organizations (CDMO) in Europe.

KAHR Medical is pioneering the development of “third generation biological drugs,” a unique class of proprietary fusion-protein molecules with clear and far-reaching advantages. KAHR’s technology represents a paradigm shift in protein-based pharmaceuticals that will significantly expand available treatment options for cancer and autoimmune disorders.

“This funding will allow the company to advance our lead products through their initial pre-clinical and clinical development stages; KAHR-102 is now clinic-ready, regulatory approved in Israel to initiate a Phase I/IIa clinical trial in lymphoma patients. Our second drug program, KAHR-101, is ready for the final stages of its pre-clinical development and we plan to explore our two DSP platforms for exciting new future pipeline candidates,” said Dr. Noam Shani, CEO of KAHR.

KAHR is an Israeli biotech company developing a drug platform known as DSP (Dual Signaling Proteins), bi-functional fusion proteins that are based on the TNF-superfamily, the proteins that control the immune system. KAHR’s technology allows the construction of biological drugs with two functional sides that allow these drugs to block or activate two reinforcing biological signals at the same time. KAHR’s DSP platforms, named DSP-Hexamers and DSP-Clusters, form a new generation of biological drugs with great diversity and superior efficacy for the treatment of multiple cancer and autoimmune disease indications.

The company’s technology is based on 15 years of research by Professor Michal Dranitzki Elhalel, Head of Nephrology at the Hadassah Medical Center, and Professor Mark Tykocinski, Dean of the School of Medicine at Jefferson University in Philadelphia and former Chief of Pathology at the University of Pennsylvania.

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