Kumquat Biosciences
Kumquat Biosciences is a San Diego company founded by KRAS pioneers that makes pills against the KRAS cancer protein and immune-boosting small molecules. Its KRAS G12D drug entered human trials with Bayer in 2025.
Overview
Kumquat Biosciences is a clinical-stage San Diego biotechnology company founded in 2018 by pioneers of KRAS targeting. Its lead asset, KQB548 (BAY 3771249), is a KRAS G12D inhibitor licensed to Bayer in August 2025 in a deal worth up to 1.3 billion US dollars in upfront and milestone payments plus royalties; a first-in-human phase 1 monotherapy trial (NCT07207707) in KRAS G12D-mutant tumours such as pancreatic, colorectal and lung cancer began in October 2025. Kumquat also granted Takeda an exclusive global licence to an oral immuno-oncology small molecule (up to 130 million US dollars near term and more than 1.2 billion in potential milestones) and has a discovery collaboration with Lilly on small molecules that stimulate tumour-specific immune responses. SEC Form D filings show about 56 million US dollars sold in 2019 and a further 80 million US dollars sold in 2021; round names are not disclosed.
Funding
All startupsInvestors not recorded; see the round sources.
| Round | Year | Amount | Source |
|---|---|---|---|
| Form D offering · Total sold per Form D filed February 2021 | 2021 | $50M | sec.gov |
| Form D offering · Total sold per amended Form D filed August 2021 | 2021 | $30M | sec.gov |
| Form D offering · Total sold per amended Form D filed August 2019 | 2019 | $56M | sec.gov |
Amounts only where the cited source states them. Rounds without a public source are not listed.
Notes
top- Stage set to startup because no round beyond the 2021 Form D offerings was found; series labels and investors are not disclosed in fetched sources.
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