The company started with genetic testing, but expanded to Covid-19 tests and vaccines during the pandemic. It's valuation has tripled since it last raised a funding round valuing it at $1.5 billion in January.
The company has raised $148 million so far and plans to raise the remaining $7 million by next month. Its lead candidate is entospletinib, a SYK inhibitor acquired as part of a deal with Gilead Sciences last month, under development for patients with biomarker-defined acute myeloid leukemia.
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The company is currently running a Phase I study of its lead candidate, the antibody-drug conjugate VLS-101, in patients with lymphomas and leukemias. It has two additional antibody-drug conjugates and a bispecific antibody in preclinical development.
Led by two Kite founders, the company launched with $300 million in VC funding in April and plans a registration trial of Servier's UCART19 and clinical development of its own allogeneic CAR-Ts next year.