Funding Daily Summary: What Happened on October 7, 2026

KymaThera raises $80 million for K-1728

KymaThera raised $80 million in a Series B led by Alta Partners, with Foresite Capital, Venrock, J. Wood Capital and other investors participating.1 The company said the funding will support Phase I testing of K-1728 in HR-positive, HER2-negative breast cancer and PI3Kα-driven vascular malformations.1

KymaThera plans to begin dosing patients in the final quarter of 2026, the company said.1 The Series B follows an earlier $20 million Series A.1

Rocket draws $35 million under credit facility

Rocket Pharmaceuticals received $35 million when it closed a credit facility with Hercules Capital worth up to $150 million.2 Rocket said it will use the financing to advance its clinical pipeline, particularly the pivotal Phase II RP-A501 study in Danon disease.2

Rocket can elect to draw another $35 million during specified periods, and a further $30 million may become available after a clinical milestone in the Danon program.2 Hercules Capital's investment committee must approve the final $50 million tranche.2

The facility and existing reserves are projected to fund operations through the third quarter of 2028. Further drawdowns could extend the runway into 2029.2 Rocket reported $283.7 million in cash, equivalents and investments as of June 30, 2026.2

Also published

• Report: Europe’s biotech leaders see recovery, but investors remain the obstacle European Biotechnology