Jasper Therapeutics, Inc. (Nasdaq: JSPR) has completed the acquisition of Cambridge, Massachusetts-based Kira Pharmaceuticals in an all-stock transaction, paired with a concurrent USD 132 million private placement intended to fund the combined US company's operations through the second half of 2028. The deal merges Kira's complement-targeted biologics portfolio with Jasper's mast cell-focused antibody franchise, creating a broader immunology pipeline spanning renal, hematologic and autoimmune indications.
The transaction follows Jasper's June announcement that it had initiated a strategic review to maximize shareholder value after evaluating market conditions. At the time, the company said it was considering options including a merger, sale, licensing transactions or an orderly wind-down while implementing cost-saving measures to preserve cash amid its need for additional financing.
Following the merger, Kira shareholders own approximately 49.9% of the combined company, private placement investors 43.5%, and legacy Jasper shareholders 6.7% on a fully diluted basis. Pre-merger Jasper shareholders received a non-transferable contingent value right entitling them to an aggregate USD 30 million if the company secures a priority review voucher for briquilimab by December 31, 2028, payable upon voucher monetization or future acquisition of the combined company. On the same day as the Jasper deal, Kira also out-licensed two complement assets, KP-301 and KP-402, to Mirador Therapeutics for a USD 12 million upfront payment plus undisclosed development and sales milestones, narrowing the combined company's focus to its core programs.
The lead asset is vensobafusp alfa (KP104), a bifunctional biologic fusing a C5 antibody with Factor H that simultaneously inhibits the alternative and terminal complement pathways, distinguishing it from single-target C5 or C3 inhibitors used in paroxysmal nocturnal hemoglobinuria (PNH) and complement-mediated nephropathies. The program is Phase II/III ready, with interim data from a renal basket trial expected in the fourth quarter of 2026 and an end-of-Phase II meeting with the US FDA planned to support a Phase III study in PNH. Jasper's own briquilimab, an anti-KIT antibody, is advancing toward a pre-Biologics License Application meeting in severe combined immunodeficiency, while KP-701, a preclinical CD79BxCD32B bispecific antibody, targets autoantibody-mediated disorders.