Kalaris Therapeutics raises $50 million in private placement

Kalaris Therapeutics Inc. (NASDAQ: KLRS) completed a $50 million private placement with institutional investors, the Berkeley Heights, New Jersey-based biopharmaceutical company announced.

The private placement includes 4.2 million shares of common stock priced at $10.00 per share and pre-funded warrants to purchase 800,000 shares at $9.9999 per warrant. The warrants carry an exercise price of $0.0001 per share and remain exercisable until fully exercised.

Participants in the funding round include both new and existing investors, among them ADAR1 Capital Management, Coastlands Capital, Invus, RTW Investments, Samsara BioCapital and Woodline Partners LP. The transaction is expected to close on December 19, 2025, subject to customary closing conditions.

The company plans to use proceeds to advance clinical development of TH103 for neovascular age-related macular degeneration and for working capital and general corporate purposes. Combined with existing cash and short-term investments, Kalaris expects the funding will support operations into the third quarter of 2027.

Morgan Stanley and Leerink Partners served as lead placement agents, with William Blair also acting as a placement agent for the transaction.

The securities sold in the private placement have not been registered under the Securities Act of 1933. Under the securities purchase agreement, Kalaris agreed to file a registration statement with the Securities and Exchange Commission for the resale of the shares and warrant shares.

Kalaris focuses on developing treatments for retinal diseases and was founded by Dr. Napoleone Ferrara, whose research contributed to anti-VEGF therapy development.

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