What Kelonia Therapeutics does

Kelonia Therapeutics is a clinical-stage biotechnology company founded in April 2022 in Boston, Massachusetts, developing in vivo gene delivery therapeutics for cancer and other diseases. The company built its lead asset, KLN-1010, an in vivo BCMA-directed CAR-T therapy for relapsed and refractory multiple myeloma, around its proprietary iGPS® (in vivo Gene Placement System) platform. The iGPS technology uses engineered lentiviral vector-like particles to deliver genetic cargo directly to target tissues, enabling the patient's body to generate CAR-T cells internally rather than through ex vivo manufacturing — a workflow change intended to eliminate apheresis, pre-treatment lymphodepleting chemotherapy, and specialized treatment center requirements associated with conventional autologous CAR-T therapies.

The company's platform was developed by a leadership team anchored by founder and CEO Kevin Friedman, PhD, who previously led the development of Abecma (the first approved anti-BCMA CAR-T therapy) at bluebird bio, and includes executives from Editas Medicine, bluebird bio, and other cell and gene therapy organizations. Kelonia raised $50 million in a Series A financing in April 2022 led by Alta Partners, Horizons Ventures, and Venrock, supplemented by research and manufacturing collaborations with Adimab (antibody discovery) and ElevateBio (cell and gene therapy manufacturing). Phase 1 inMMyCAR trial data presented at ASH 2025 and ASCO 2026 demonstrated 100% MRD-negative bone marrow response rates across 18 evaluable patients with relapsed/refractory multiple myeloma and a favorable safety profile. The FDA cleared Kelonia's IND application for KLN-1010 in January 2026.

Kelonia operated as a pre-commercial biotech with no product revenue; its business model was R&D-driven with value realization expected through licensing, partnership, or acquisition. In April 2026, Eli Lilly agreed to acquire Kelonia for up to $7 billion ($3.25 billion upfront plus up to $3.75 billion in clinical, regulatory, and commercial milestones), the largest purchase of a venture-backed private biotech in the past 10 years at approximately 65x the capital Kelonia had raised. Following the close (expected H2 2026), Kelonia operates as a wholly owned subsidiary of Eli Lilly and Company, with its therapies distributed through Lilly's global pharmaceutical commercialization infrastructure.

Name

Kelonia Therapeutics

Legal name

KELONIA THERAPEUTICS, INC.

Website

https://keloniatx.com

Company type

Private

Founded year

2022

Operating status

Acquired

Headcount range

11–50 employees

Short description

Kelonia Therapeutics is a Boston-based, clinical-stage biotech developing in vivo gene delivery therapeutics using its proprietary iGPS® lentiviral vector-like particle platform. Its lead program, KLN-1010, is an in vivo BCMA CAR-T therapy for relapsed/refractory multiple myeloma, acquired by Eli Lilly in 2026.

Ownership category

akta.pro rank

Product category

Cell Therapy / Gene Therapy Pharmaceuticals

NAICS

Biological Product (except Diagnostic) Manufacturing (325414), Research and Development in Biotechnology (except Nanobiotechnology) (541714)

SIC

Biological Products, (No Disgnostic Substances) (2836)

akta.pro primary industry

Lentiviral Vector Gene Therapy Developers (HLAAACAB)

akta.pro secondary industries

Cell Therapy Enabling Technologies (gene editing, cell engineering, delivery methods) (HLAAABAL), Oncology Gene Therapies (incl. oncolytic vectors & gene-modified approaches) (HLAAACAF)

Keywords

• In vivo gene therapy
• CAR-T cell therapy
• Lentiviral vector delivery
• Genetic medicines platform
• Cancer cell therapy

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Personnel, Operations, Infrastructure, Marketing or Sales

Revenue model

1. Biopharmaceutical Development & Licensing: Kelonia operated as a clinical-stage biotech focused on developing its in vivo gene delivery platform and CAR-T therapy candidates, with the goal of advancing through clinical trials toward regulatory approval and commercial launch. The company was acquired by Eli Lilly in 2026.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Kelonia Therapeutics develops in vivo gene delivery-based genetic medicines using its proprietary iGPS® platform, which uses engineered lentiviral vector-like particles to program T cells directly inside the patient's body to generate CAR-T cells in situ. The lead clinical asset, KLN-1010, is an in vivo BCMA-directed CAR-T therapy in Phase 1 trials for relapsed/refractory multiple myeloma, eliminating the need for ex vivo cell manufacturing and pre-treatment lymphodepletion chemotherapy associated with conventional CAR-T therapies.

Product overview

Kelonia Therapeutics operates as a clinical-stage biotechnology company developing genetic medicines using its proprietary iGPS® (in vivo Gene Placement System) technology platform. The platform builds on decades of research to efficiently deliver genetic cargo only to desired tissues, enabling the body to generate its own CAR-T therapies internally. The company's lead product is KLN-1010, an in vivo BCMA CAR-T therapy for relapsed/refractory multiple myeloma currently in Phase 1 trials. The technology combines lentiviral vector-like particles with CAR T cell immunology to develop off-the-shelf genetic therapeutics that overcome traditional manufacturing and access barriers.

Differentiator

Problem solved

Functional benefit

Products and services

• iGPS® (in vivo Gene Placement System) Technology Platform Kelonia's proprietary in vivo gene delivery platform that uses engineered lentiviral vector-like particles combined with CAR T cell immunology to program immune cells directly inside patients' bodies, enabling the development of off-the-shelf genetic therapeutics without the manufacturing complexity of traditional ex vivo CAR-T therapies.
• KLN-1010 An in vivo BCMA-directed CAR-T therapy targeting relapsed/refractory multiple myeloma. It is a one-time gene therapy that programs T cells inside the patient's body to fight cancer, currently in Phase 1 clinical trials (inMMyCAR study) showing 100% overall response rate and 100% MRD-negative bone marrow response across 18 dosed patients.

Quantifiable outcome

• 100% overall response rate (ORR) and 100% MRD-negative bone marrow response at 1 month in 18 evaluable patients with relapsed/refractory multiple myeloma in Phase 1 trial
• +4 more outcomes

Segments1 record

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered flagship and core.

• Eli Lilly and CompanyflagshipStrategic or Co-development Partner · 20 April 2026Eli Lilly agreed to acquire Kelonia Therapeutics for up to $7 billion ($3.25 billion upfront plus up to $3.75 billion in clinical, regulatory, and commercial milestones) to advance in vivo CAR-T cell therapies. The acquisition was expected to close in H2 2026 pending regulatory approvals. Kelonia operates as a wholly owned subsidiary of Eli Lilly.
• AdimabcoreTechnology or Integration · 28 April 2022Kelonia formed a collaboration with Adimab to support its research and manufacturing efforts. Adimab is a therapeutic antibody discovery company that provides antibody discovery and optimization services to biotechnology partners.
• ElevateBiocoreTechnology or Integration · 28 April 2022Kelonia formed collaborations with ElevateBio to support its research and manufacturing efforts. ElevateBio provides cell and gene therapy manufacturing and development services to biotech companies.

Scale indicators7 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Legend Biotech: Legend Biotech is the originator and co-developer of Carvykti (BCMA CAR-T) with Janssen, making it the most relevant commercial-stage peer for Kelonia in the same indication and target.
• Arcellx: Arcellx is developing CAR-T therapies for multiple myeloma using its proprietary D-Domain binder platform (partnered with Gilead/Kite for CART-ddBCMA), competing head-to-head with KLN-1010 in the same indication and against CDMO partner overlap with Kelonia's leadership lineage.
• Capstan Therapeutics: Capstan developed in vivo CAR-T using lipid nanoparticle delivery of mRNA; its acquisition by AbbVie for up to $2.1B provides a near-perfect parallel to Kelonia's Eli Lilly deal — a clinical-stage in vivo CAR-T platform company acquired by a large pharma at a strategic premium.
• Interius BioTherapeutics: Interius is developing in vivo gene delivery using viral vectors to generate chimeric antigen receptor cells inside the body, with direct overlap in modality and approach to Kelonia's iGPS® platform for hematologic cancers.
• Umoja Biopharma: Umoja is developing in vivo CAR-T therapies using a lentiviral-based delivery platform (VivoVec) that reprograms T cells inside the patient — directly mirroring Kelonia's iGPS® approach and targeting similar hematologic malignancy indications.
• Allogene Therapeutics: Allogene is the leading allogeneic ('off-the-shelf') CAR-T developer targeting hematologic cancers — sharing Kelonia's strategic goal of reducing CAR-T manufacturing complexity, although via ex vivo allogeneic rather than in vivo manufacturing approaches.

Emerging players

• Sana Biotechnology: Sana is developing in vivo gene therapy and ex vivo cell therapy platforms (including hypoimmune allogeneic CAR-T and in vivo delivery technologies) that compete with Kelonia's in vivo CAR-T concept, though with broader and earlier-stage pipeline scope.
• Vor BioPharma: Vor Bio is a clinical-stage cell and gene therapy company developing engineered hematopoietic stem cell therapies for hematologic malignancies and autoimmune disease — operating in adjacent genetic medicine space with overlapping target indications.

Broad incumbents

• Bristol Myers Squibb: BMS markets Abecma (idecabtagene vicleucel), the first FDA-approved BCMA-directed CAR-T for multiple myeloma that was originally co-developed with bluebird bio — Kelonia's founder Kevin Friedman led Abecma's development, and Abecma is the principal incumbent competitor to KLN-1010.
• Johnson & Johnson (Janssen): Janssen co-developed and markets Carvykti (ciltacabtagene autoleucel) with Legend Biotech — the leading BCMA-directed CAR-T therapy in multiple myeloma by market share, and a direct competitive benchmark for KLN-1010 efficacy and durability.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/kelonia-therapeutics
• Xx.com/KeloniaTx

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds2 records

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Kelonia Therapeutics