--- title: 'Funding Daily Summary: What Happened on October 7, 2026' headline: KymaThera raises $80 million for breast cancer drug description: Rocket Pharmaceuticals drew $35 million from a credit facility that could provide up to $150 million. url: https://thebench.bio/news/funding/2026-10-07 topic: funding date: '2026-10-07' covers: - '2026-10-07' date_published: '2026-10-07T12:01:51Z' date_modified: '2026-10-07T12:01:51Z' sources: 2 publisher: The Bench (thebench.bio) --- # Funding Daily Summary: What Happened on October 7, 2026 **KymaThera raises $80 million for breast cancer drug** Rocket Pharmaceuticals drew $35 million from a credit facility that could provide up to $150 million. ## Today in brief KymaThera raised $80 million to advance K-1728 toward clinical testing in breast cancer. [1] Rocket Pharmaceuticals received $35 million upfront under a credit facility of up to $150 million for its cardiovascular pipeline. [2] ## 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] ## The day in numbers - **$80 million**: KymaThera's Series B financing for K-1728. [1] - **$150 million**: Maximum value of Rocket Pharmaceuticals' credit facility with Hercules Capital. [2] ## Also published - [Report: Europe’s biotech leaders see recovery, but investors remain the obstacle](), European Biotechnology ## Sources 1. [KymaThera pulls in $80m to bring breast cancer drug to clinic ](), Pharmaceutical Technology, 2026-10-07 2. [Rocket receives $150m credit facility to advance cardiovascular portfolio](), Pharmaceutical Technology, 2026-10-07 --- The Bench wrote this from the reporting cited above, with a language model drafting and editing. [1]: [2]: