- Headquarters: Massachusetts
- Founded: 2004
- kalvista.com
KalVista Pharmaceuticals enters collaboration agreement with Merck (MRK); Merck to pay $37 mln upfront payment, additionally take 9.9% stake through private placement at $8.50/share
The co announced that it has entered into a collaboration agreement with Merck (MRK) for KVD001, the Company's investigational intravitreal injection candidate currently in development for potential treatment of diabetic macular edema, as well as future oral DME compounds based upon plasma kallikrein inhibition
- Under the terms of the agreement, KalVista has granted to Merck certain rights including an option to acquire KVD001 through a period following completion of the Phase 2 proof-of-concept trial that KalVista intends to commence later this year. KalVista also has granted to Merck a similar option to acquire investigational orally delivered molecules for DME that KalVista will continue to develop as part of its ongoing research and development activities. As consideration for the agreement, Merck will pay to KalVista a $37 million non-refundable upfront fee. KalVista is further eligible to receive payments associated with the exercise of the options by Merck and the achievement of milestones for each program that potentially total up to $715 million. KalVista also will receive tiered royalties on net sales for therapeutic candidates commercialized under this agreement. KalVista will fund and retain control over the planned Phase 2 clinical trial of KVD001 as well as development of the investigational oral DME compounds through Phase 2, unless Merck exercises its options earlier.
- In addition to the collaboration, KalVista has entered into a separate $9.1 million private placement transaction with Merck under which Merck has acquired 1,070,589 shares of KalVista, representing a 9.9% ownership stake, at a price of $8.50 per share. This private placement closed concurrent with execution of the Option Agreement.
Description
KalVista Pharmaceuticals, Inc., formerly Carbylan Therapeutics, Inc., is a clinical-stage pharmaceutical company. The Company is focused on the discovery, development, and commercialization of small molecule protease inhibitors for a range of diseases. The Company has developed a portfolio of small molecule plasma kallikrein inhibitors targeting hereditary angioedema (HAE) and diabetic macular edema (DME). The Company is developing a plasma kallikrein inhibitor, which is administered directly into the eye. The Company is engaged in advancing several product candidates developed from its portfolio into early clinical trials. The Company is progressing additional oral candidates towards regulatory preclinical studies. The Company's HAE product candidate, KVD818, is an inhibitor of plasma kallikrein. The Company has initiated clinical testing of KVD818 in a Phase I clinical trial. It has completed an open-label single ascending dose Phase I trial in DME patients with KVD001.
Key stats and ratios
| Q3 (Jul '17) | 2017 | |
| Net profit margin | -5133.33% | -1236.90% |
| Operating margin | -5680.21% | -1485.31% |
| EBITD margin | - | -1482.65% |
| Return on average assets | -60.70% | -40.82% |
| Return on average equity | -68.09% | -46.14% |
| Employees | 14 |
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