Callio Therapeutics Launches with $187M to Develop Next-Gen ADC Cancer Therapies

• Callio Therapeutics has launched with a $187 million Series A funding round, led by Frazier Life Sciences.

• The company has secured an exclusive license for Hummingbird Bioscience’s multi-payload ADC platform and will use the funds to advance two ADC programs.

Callio Therapeutics, a biotechnology company focused on developing multi-payload antibody-drug conjugates (ADCs) for cancer therapy, has launched with the closing of a $187 million Series A financing round. The investment was led by Frazier Life Sciences, with participation from Jeito Capital, Novo Holdings A/S, Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital, and EDBI.

The company, headquartered in Seattle and Singapore, plans to use the funding to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program. As part of its launch, Callio Therapeutics has acquired an exclusive worldwide license for Hummingbird Bioscience’s multi-payload ADC platform, including associated intellectual property and pipeline assets. The agreement includes an equity component, potential milestone payments, and royalties.

“We are delighted to be launching Callio Therapeutics with the support of Frazier Life Sciences and this syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells and may provide significantly enhanced efficacy,” said Piers Ingram, PhD, co-founder and Chief Executive Officer of Callio Therapeutics.

The company’s leadership team brings experience from biotechnology and pharmaceutical firms such as ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, Hummingbird Bioscience, and Genentech. The founding executives include Piers Ingram, PhD, as CEO; Jerome Boyd-Kirkup, PhD, as Chief Scientific Officer; Naomi Hunder, MD, as Chief Medical Officer; and Angèle Maki, PhD, as Chief Business Officer.

Adam Simpson, Executive Board Chair of Callio Therapeutics and Venture Partner at Frazier Life Sciences, highlighted the company’s potential impact on cancer treatment. “With the expertise of the Callio Therapeutics team, together with access to the innovative multi-payload ADC technology, we believe that Callio Therapeutics will be the first company to show the clinical benefit of this exciting new multi-payload ADC approach and is well positioned to transform cancer therapy.”