Jasper finds new purpose in merger with Kira, while offloading Tavneos rival to Mirador

Jasper Therapeutics has completed an all-stock merger with Kira Pharmaceuticals, creating a combined company focused on immunologically-driven and immune-mediated diseases, with pipeline assets including KP-104, briquilimab, and KP-701, while also raising $132 million in a private placement that will fund operations through the second half of 2028.

As part of the transaction, Kira out-licensed two complement-targeting programs—KP-301 (an anti-C5a antibody) and KP-402 (a small molecule C5a receptor antagonist)—to Mirador Therapeutics, receiving a $12 million upfront payment and eligibility for up to $459 million in potential milestone payments, thereby supplying Mirador with key assets to compete in areas overlapping with or adjacent to Tavneos, a rival drug in the immune and complement inhibitor space.

Legacy Jasper shareholders retain a small stake (around 6–7%) in the combined company, but receive contingent value rights entitling them to a pro-rata share of up to $30 million if a priority review voucher for briquilimab is obtained by December 31, 2028, marking a strategic pivot that gives Jasper a new purpose as an immunology-focused platform built on Kira’s programs and Mirador’s offloaded programs.