Kolltan Pharmaceuticals

Kolltan Pharmaceuticals, Inc. operated as a clinical-stage biopharmaceutical company with a sharp focus on oncology. It was founded in 2007 by Dr. Joseph Schlessinger and Arthur Altschul, Jr., commencing its operations in 2008 after licensing intellectual property from Yale University. Dr. Schlessinger, a distinguished biochemist and Chairman of the Pharmacology Department at Yale School of Medicine, brought extensive experience in cellular signaling and has a history of founding successful biotech companies like SUGEN and Plexxikon. This background in understanding receptor tyrosine kinases (RTKs) was fundamental to Kolltan's mission. The company's business model centered on the discovery and development of antibody-based drugs designed to modulate the function of RTKs, which are crucial in cell growth and are often implicated in cancer.

Kolltan's strategy involved creating biologic agents to treat cancers and other diseases with significant unmet needs, working in close collaboration with Dr. Schlessinger's lab at Yale. The company's product pipeline was built to systematically target various RTKs. Its lead product candidates included KTN3379, an antibody targeting the ErbB3 receptor, and KTN0158, an inhibitor of the KIT receptor. These candidates were being evaluated in Phase 1 clinical trials for treating solid tumors and were designed to overcome resistance mechanisms seen with existing tyrosine kinase inhibitors. The company's revenue model was predicated on the successful development and commercialization of these therapeutics, a standard high-risk, high-reward model in the biopharmaceutical industry. By 2014, the company had raised significant capital, including a $60 million Series D financing round, to advance its clinical programs.

A significant milestone in the company's history was its acquisition by Celldex Therapeutics in November 2016. The stock-for-stock transaction was valued at an upfront payment of approximately $62.5 million, with potential for up to an additional $172.5 million in milestone payments. This acquisition integrated Kolltan's pipeline, including its novel antibody platform targeting RTKs, into Celldex's portfolio, aiming to enhance their immuno-oncology capabilities and develop new combination therapies for difficult-to-treat cancers. At the time of the acquisition, Kolltan's programs, including those targeting KIT, ErbB3, and the TAM family of receptors, were seen as promising solutions to challenges in tumor resistance.

Keywords: Kolltan Pharmaceuticals, Celldex Therapeutics, Joseph Schlessinger, Arthur Altschul Jr, receptor tyrosine kinases, RTK inhibitors, oncology therapeutics, antibody-based drugs, cancer research, clinical-stage biopharmaceutical, immuno-oncology, KTN3379, KTN0158, ErbB3 receptor, KIT receptor, solid tumors, tumor resistance, Yale University, biopharmaceutical acquisition, drug discovery, cancer biology, monoclonal antibodies, targeted therapy, venture capital, biopharma financing