Jasper Therapeutics Completes Kira Pharmaceuticals Acquisition And Secures $132 Million In Private Financing

Jasper Therapeutics, Inc. has completed its acquisition of Kira Pharmaceuticals in an all-stock transaction, creating a combined biotechnology company focused on developing innovative therapies for immune-mediated diseases. At the same time, Jasper entered into a private placement financing agreement for the sale of non-voting convertible preferred stock. The financing was co-led by Affinity Asset Advisors and Ikarian Capital, with participation from several leading life sciences investors, and is expected to generate approximately $132 million in gross proceeds. The combined company will continue trading on the Nasdaq under the ticker symbol "JSPR."

The funds raised through the private placement will support the company's research and development programs through the second half of 2028. The expanded pipeline includes KP-104, a potential best-in-class dual-complement inhibitor being developed for paroxysmal nocturnal hemoglobinuria (PNH) and kidney diseases with high unmet medical needs; briquilimab, an anti-KIT antibody being investigated across multiple transplant and immune-related indications; and KP-701, a dual-acting monoclonal antibody designed to treat autoantibody-mediated disorders. Together, these programs strengthen the company's focus on developing next-generation therapies for immunological diseases.

Jasper expects its cash position at closing, including proceeds from the private placement and an out-licensing agreement, to provide sufficient funding through the second half of 2028. The financial runway is expected to support several important clinical milestones, including Phase 2 results for KP-104 in renal diseases, an end-of-Phase 2 meeting with the U.S. Food and Drug Administration (FDA) to discuss a potential Phase 3 study of KP-104 in PNH, the advancement of briquilimab for Severe Combined Immunodeficiency (SCID) toward a pre-Biologics License Application meeting, and the generation of first-in-human clinical data for KP-701.

Jeet Mahal, President and Chief Executive Officer of Jasper Therapeutics, said the acquisition follows a comprehensive review of strategic opportunities and brings together a highly differentiated complement therapy portfolio. He noted that Kira's scientific expertise and innovative approach, including dual-mechanism and long-acting complement inhibitors, significantly strengthen Jasper's pipeline and create new opportunities to develop important treatments for patients with immune-mediated diseases.

Patrick Crutcher, former Chairman of Kira Pharmaceuticals, described the transaction as an important milestone for Kira's product portfolio. He said joining Jasper will provide the resources and expertise needed to advance biologic therapies designed to improve outcomes for patients with immune-related disorders. He also highlighted the out-licensing of KP-301 and KP-402 to Mirador Therapeutics, stating that the agreement allows both companies to accelerate the development of promising therapeutic candidates while enabling the combined organization to focus on its core pipeline and upcoming clinical milestones.

With the acquisition complete, the combined company aims to leverage the scientific capabilities of both organizations, supported by a strong management team and leading life sciences investors. Jasper believes the strengthened pipeline, expanded financial resources, and multiple upcoming clinical milestones position the company for long-term growth while advancing new treatment options for patients living with serious immunological disorders.