Wa’ed Ventures, the $500 million venture capital fund backed by Saudi Aramco, has announced it is leading a $10 million Pre-Series A funding round for Kure Cells, a US-based biotechnology company developing next-generation cell therapies. The investment, which also saw participation from Saudi healthcare company Qomel, US-based NantBio, and US93, is set to accelerate the localization of Kure Cells’ advanced cancer treatment technologies within the Kingdom.
Revolutionizing Cancer Treatment
The global cell and gene therapy market is projected to exceed $100 billion by 2030, but its growth has been constrained by challenges in manufacturing speed, cost, and scalability. Kure Cells, co-founded by Dr. David Wald and Dr. Sayer Alfuraydi, directly addresses this bottleneck with its proprietary Ultra-Fast CAR (UF-CAR) platform. This technology enables the same-day engineering of a patient’s T-cells to fight cancer, drastically reducing the manufacturing cycle from several weeks to less than 24 hours. This automated, closed-system process not only preserves T-cell health for improved durability but also reduces production costs significantly. The company’s lead candidate, UF-KURE19, has demonstrated an impressive 88% complete response rate in patients with non-Hodgkin lymphoma.
Strategic Localization In The Kingdom
The new funding will be instrumental in Kure Cells’ expansion into Saudi Arabia. The capital will support the establishment of localized R&D and manufacturing facilities dedicated to advanced cell therapy. This initiative involves close collaboration with Saudi researchers and clinicians to adapt the UF-CAR platform to meet local regulatory and clinical standards. This strategic move aligns perfectly with the goals of the Ministry of Investment (MISA) and the Research, Development and Innovation Authority (RDIA) to establish the Kingdom as a global biotech hub by anchoring high-value research and cultivating local scientific talent.
A Vision For Global Accessibility
Leaders from both organizations highlighted the strategic importance of the partnership. “Partnering with Kure Cells is a crucial step in localizing cutting-edge biotech companies in the Kingdom,” stated Anas Algahtani, Acting Chief Executive Officer of Wa’ed Ventures. “Together with Kure’s founders, the aim is to advance Saudi Arabia’s healthcare and deliver transformational care to cancer patients.”
Dr. David Wald, co-founder and CEO of Kure Cells, added, “This partnership marks a major step toward making truly next-generation CAR-T therapies accessible on a global scale. Together with Wa’ed and our other partners, we aim to bring this transformative capability to the Kingdom and areas of the world with limited accessibility to cell therapy products.”
About Kure Cells
Founded by Dr. David Wald and Dr. Sayer Alfuraydi, Kure Cells is a U.S.-based biotechnology company focused on pioneering a new generation of cellular therapies. The company’s proprietary Ultra-Fast CAR (UF-CAR) platform enables the same-day engineering of a patient’s T-cells to fight cancer, compressing a multi-week manufacturing process into less than 24 hours. This innovation aims to improve durability, enhance safety, and reduce manufacturing costs to a fraction of conventional CAR-T production.
Source: Wamda
