Upsized Kyverna IPO Gets $319M to Bring CAR T-Therapy to Autoimmune Diseases

Kyverna Therapeutics, a biotech company specializing in cell therapy, recently raised $319 million in an IPO to fund clinical testing of their pipeline focused on rheumatology and neurology. The company has developed CAR T-therapies designed to be safer and more tolerable for patients with autoimmune diseases. Kyverna’s lead program, KYV-101, is being tested for lupus nephritis and other conditions. The company also has a partnership with Intellia to develop allogeneic CAR T-cell therapies. While the company’s cell therapies aim to improve safety and efficacy, there are still safety risks associated with such treatments, including a theoretical risk of cancer.

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