In November 2024, Kanglin announced the successful completion of a Series A financing of $20 million. Proceeds from the financing will be used to support the clinical development for the company’s lead asset, KL003, a lentiviral vector gene therapy that delivers a functional ß-globin gene for the one-time treatment of beta thalassemia and sickle cell disease. KL003 cell infusion has recently received Pediatric Rare Disease Designation (RPDD) and Orphan Drug Designation (ODD) from the U.S. by the Food and Drug Administration (FDA). In January 2024, the clinical trial application for KL003 cell injection was approved by the Center for Drug Evaluation (CDE) in China for the treatment of transfusion-dependent beta thalassemia.

The company will use additional funds from the financing to evaluate the feasibility of additional therapeutic indications in their pipeline.