Jasper Therapeutics completes all-stock merger with Kira Pharmaceuticals, adds $132 million PIPE

Jasper Therapeutics said it completed its acquisition of Kira Pharmaceuticals on July 16, 2026, under a merger agreement in which Kira merged into Kira Holdco Inc., a wholly owned Jasper subsidiary, with Kira Holdco surviving the transaction.¹ The companies structured the deal so that it is meant to be treated as a tax-free reorganization under federal tax rules.¹

Under the agreement, Jasper issued Kira shareholders 5,195,009 shares of voting common stock and 4,644,977 shares of non-voting convertible preferred stock, with each preferred share convertible into 61 common shares under certain conditions.¹ Jasper also assumed Kira's outstanding options, converting them into rights to purchase an aggregate of 392,791 common shares and 351,201 preferred shares.¹

Alongside the merger, Jasper raised capital through a private placement. The company agreed to sell approximately 4.7 million shares of preferred stock for an aggregate cash price of about $132 million.¹ Following that financing, pre-transaction Jasper equityholders will hold about 6.68% of common stock, former Kira equityholders about 49.86%, and PIPE investors about 43.46%, on a fully diluted basis.¹

Jasper also disclosed a contingent value rights agreement tied to briquilimab. Each CVR entitles holders to a pro rata share of a $30 million milestone payment if the FDA issues a priority review voucher for briquilimab by December 31, 2028.¹

Separately, Kira licensed two preclinical complement assets to Mirador Therapeutics. Mirador paid Kira a $12 million upfront fee and could owe up to $108.5 million in development and regulatory milestones plus up to $350 million in sales-based milestones.¹