Facility strengthens Kyverna's financial flexibility, further supporting advancement of its late-stage indications in generalized myasthenia gravis (gMG) and stiff person syndrome (SPS), while also accelerating pre-launch activities
Topline data readout of registrational Phase 2 SPS trial now expected in early 2026; narrowed from previous guidance of first half 2026
EMERYVILLE, Calif., Nov. 03, 2025 (GLOBE NEWSWIRE) -- Kyverna Therapeutics, Inc. (NASDAQ:KYTX) ("Kyverna"), a clinical-stage biopharmaceutical company focused on developing cell therapies for patients with autoimmune diseases, today announced that, on October 31, 2025, it closed a loan facility with Oxford Finance LLC ("Oxford Finance") for up to $150 million in non-dilutive capital. The Company will initially be drawing $25 million under the facility on November 3, 2025, with additional tranches available based on the achievement of key clinical and commercial milestones aligned with Kyverna's growth strategy and funding needs.
"We are pleased to partner with Oxford Finance on a strategic, non-dilutive financing agreement with attractive terms that strengthen our financial flexibility," said Warner Biddle, Chief Executive Officer of Kyverna. "This facility further supports the rapid progress across our late-stage programs, including in myasthenia gravis, where we look forward to initiating enrollment in our Phase 3 registrational trial by the end of this year following positive interim Phase 2 trial data, and in stiff person syndrome, in which we are tracking ahead of schedule to report topline registrational results early next year."
"Kyverna is uniquely positioned to potentially become the first company to deliver an approved CAR T-cell therapy for an autoimmune disease and we're proud to be partnering with this outstanding team to advance that mission," said Kirk Andrews, Managing Director of Oxford Finance. "This investment reflects Kyverna's continued strong execution on their strategy and the promising potential of KYV-101, as consistently demonstrated in treated patients across multiple autoimmune indications, including most recently in generalized myasthenia gravis."
The $150 million loan facility includes an initial tranche of $40 million and two additional tranches totaling $60 million, ...
