SAN DIEGO, Nov. 2, 2017 /PRNewswire/ -- Klotho Therapeutics, Inc. (KTI), a biotechnology company focused on commercializing its patent pending version of the protein/hormone Klotho, announced the first closing of a $10 million Series A Preferred round of financing to advance Klotho development for the highest priority indication: kidney disease. Thynk Capital (thynkcapital.com) led the investment. Proceeds of the financing will fund KTI's manufacturing scale-up, first in-human studies and Investigational New Drug (IND) application with the FDA.
This round of funding builds upon the $100+ million invested in Klotho-related academic research that demonstrated Klotho's positive impact not only on kidney function but also cognition, fibrosis, cancer and longevity. Klotho is found naturally in humans and animals. KTI has worldwide patents pending on versions of modified and recombinant Klotho that can be readily manufactured using standard cell culture technology.
The company's funding announcement coincides with a scientific presentation by KTI key advisor Ming Chang Hu, MD, PhD, at the American Society of Nephrology 50th Annual "Kidney Week" held in New Orleans, LA from October 31 – November 5. Dr. Hu will speak to kidney professionals from around the world about the role of Klotho in AKI. According to Dr. Hu, "Acute Kidney Injury is a state of acute Klotho deficiency." Dr. Hu's presentation is on November 3, 2017 at 2pm CST in room 262 of the New Orleans Ernest N. Morial Convention Center.
"We believe Klotho protein has the potential to transform the treatment of AKI and be the first drug to slow the progression of chronic kidney disease that affects up to 40 million people in the US. This financing enables KTI to accelerate human trials and understand the therapeutic benefits of Klotho better," said Jim Plante, KTI founder and CEO. "In addition, we are delighted to be working with Dr. Hu as he brings deep experience with Klotho and invaluable insight to our team."
Klotho Therapeutics (KTI) is a biotechnology company developing a patent-pending Klotho protein that has great potential to delay diseases of aging and help people live well longer. Naturally occurring in humans and animals, Klotho positively influences longevity, cognition and kidney function as well as slowing progression of diabetes and cancer. KTI is led by successful biotech startup executives and operates virtually. For more information, please visit: www.klotho.com.
SOURCE Klotho Therapeutics, Inc.