Jasper Therapeutics Inc. (NASDAQ:JSPR) on Thursday said it completed its all-stock acquisition of Kira Pharmaceuticals, bringing the two biotechnology companies together to advance a unified pipeline of therapies targeting immune-mediated and autoantibody-driven diseases.
Jasper Therapeutics Raises $132 Million
In tandem with the merger, Jasper closed a private placement of non-voting convertible preferred stock, raising approximately $132 million in gross proceeds to support its expanded clinical portfolio.
Led by President and CEO Jeet Mahal and CFO Herb Cross, the company anticipates its total capital reserves will fully fund operations through the second half of 2028.
Furthermore, Kira bolstered its corporate balance sheet by out-licensing its KP-301 and KP-402 assets to Mirador Therapeutics in exchange for a $12 million upfront payment plus potential milestone fees.
Advanced Immunology Pipeline In Focus
The combined entity will trade on the Nasdaq under the existing symbol “JSPR” while concentrating development resources on high-value immunology targets.
Its core assets include KP-104, a phase-ready biologic designed to treat paroxysmal nocturnal hemoglobinuria (PNH) and serious kidney diseases, alongside briquilimab, an anti-KIT antibody under evaluation for severe combined immunodeficiency (SCID).
The company is also moving forward with KP-701, a preclinical B-cell receptor-targeted therapy.
Anticipated Milestones And Regulatory Timeline
Jasper plans to report initial Phase 2 basket trial data for KP-104 in renal disorders by the fourth quarter of 2026, followed by additional readouts in mid-2027.
It also intends to hold an end-of-Phase 2 meeting with the U.S. Food and Drug Administration in the first half of 2027 to map out Phase 3 testing for PNH.
For briquilimab, the company is progressing toward a pre-Biologics License Application meeting with regulators in early 2027.
Finally, Jasper aims to submit an investigational new drug application for KP-701 in the first quarter of 2027, with the goal of presenting first-in-human clinical data by the third quarter of 2027.
William Blair suspended its rating on Jasper following the merger, writing, “Given the meaningful changes to the company, we are suspending our rating as we evaluate the new programs and update our financial estimates.”
Analyst Matt Phipps wrote, “We are intrigued by the Phase II data with KP-104 in PNH as being competitive with Fabhalta, and see additional potential in IgA nephropathy and C3 glomerulopathy given the known role of complement in these renal diseases.”
Jasper Therapeutics Price Action
JSPR Stock Price Activity: Jasper Therapeutics shares were up 20.67% at $0.9250 at the time of publication on Friday, according to Benzinga Pro data.
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