Jeito Capital announces significant participation in $187 million Series A financing for Callio Therapeutics to advance innovative multi-payload ADC programs designed to maximize therapeutic benefit for cancer patients

• Callio Therapeutics is a biotechnology company developing multi-payload ADCs with technology and programs exclusively in-licensed from Singapore-based Hummingbird Bioscience.
• Investment will contribute to achieve clinical proof-of-concept for Callio’s HER-2-targeted dual-payload ADC and a second undisclosed ADC program.
• Jeito’s investment reinforces its commitment to cutting-edge oncology innovations addressing treatment resistance and improving patient outcomes.

Paris, France, March 3rd, 2025 – Jeito Capital (“Jeito”), a global leading independent Private Equity fund dedicated to biopharma, announced today its significant participation in the $187 million (€180.2 million^[1]) Series A financing round in Callio Therapeutics (“Callio”), a newly launched biotechnology company focused on realizing the promise of multi-payload antibody-drug conjugates (ADCs) to improve cancer therapy.

Callio Therapeutics was founded by Frazier Life Sciences to develop next-generation multi-payload antibody-drug conjugates (ADCs) based on technology and programs exclusively in-licensed from Singapore-based Hummingbird Bioscience. The company is led by co-founder and CEO Piers Ingram, PhD, alongside a founding management team with deep expertise in ADC development bringing experience from leading biotechnology and biopharmaceutical companies (including Hummingbird Bioscience, ProfoundBio, Silverback Therapeutics, SeaGen, Medarex, and Genentech).

The $187 million Series A financing was led by Frazier Life Sciences with significant participation from Jeito alongside an investment syndicate including Novo Holdings A/S Omega Funds, ClavystBio, Platanus, Norwest, Pureos Bioventures, SEEDS Capital and EDBI. The strength of this syndicate underscores the broad confidence in Callio’s innovative ADC platform and its potential to reshape cancer therapy.

Callio Therapeutics will use the proceeds from the Series A financing to achieve clinical proof-of-concept for its HER2-targeted dual-payload ADC and a second undisclosed ADC program, all designed to maximize therapeutic benefit for cancer patients by overcoming the limitations of single-payload therapies. By enabling the targeted delivery of rational drug combinations to tumor cells, Callio’s approach has the potential to significantly enhance efficacy and address resistance mechanisms.

Rachel Mears, Partner at Jeito will join Callio’s Board of Director as a Board member.

Through this investment, Jeito reinforces its commitment to supporting transformative oncology innovations that address key resistance mechanisms in cancer treatment. Callio’s differentiated multi-payload ADC platform aligns with Jeito’s investment thesis of backing high-potential biopharma companies developing next-generation therapies with the potential for global leadership.

Dr Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said: “We are pleased to support Callio Therapeutics as it advances its differentiated multi-payload ADC platform to address some of the biggest challenges in oncology. As long-standing investors in this therapeutic area, we recognize the quality and potential of Callio’s approach to overcome resistance mechanisms and improve outcomes for patients with hard-to-treat cancers. At Jeito, we believe that strategic collaborations and bold innovation are key to accelerating the next generation of targeted therapies, and we look forward to working alongside the Callio team to bring these advances to patients in need.”

Rachel Mears, Partner at Jeito Capital, added: “Callio is a highly innovative company that benefits from an experienced management team and deep expertise in oncology, where new therapies remain highly needed for those suffering from various forms of cancer. We look forward to collaborating with Callio’s team through our collective knowledge and expertise in both ADCs and oncology with the ambition to go faster to patients with high unmet needs.”

Piers Ingram, PhD, co-founder and Chief Executive Officer of Callio Therapeutics, concluded: “We are delighted to be launching Callio Therapeutics with this very strong syndicate of investors. Multi-payload ADCs have the potential to enable the targeted delivery of rational drug combinations to cancer cells, and may provide significantly enhanced efficacy. This new generation of ADC therapies may meaningfully improve outcomes for patients.”

[1] EUR/USD exchange rate: 1 EUR = 1.0377 USD date February 7, 2025 (source: Banque de France)

About Jeito Capital

Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

For more information, please visit www.jeito.life or follow us on LinkedIn or X.

About Callio Therapeutics

Headquartered in Seattle and Singapore, Callio Therapeutics is focused on realizing the promise of multi-payload antibody-drug conjugates to transform cancer patient outcomes. The company is developing next-generation, multi-payload antibody-drug conjugates (ADCs) that feature differentiated payload and linker technologies that enable targeted delivery of multi agents to tumor cells to maximize therapeutic benefit. Callio Therapeutics’ lead program is a HER2-targeted dual-payload ADC. Callio Therapeutics was created by Frazier Life Sciences, a longstanding investment firm focused on innovative therapeutics, based on ADC technology and programs exclusively in-licensed from Hummingbird Bioscience.

For more information, please visit www.calliotx.com and follow Callio Therapeutics on LinkedIn.

For further information please contact:

Maior
Stéphanie Elbaz
stephanie.elbaz@maior-conseil.com
Tel: +33 6 46 05 08 07