Rakovina Therapeutics (with NanoPalm JV collaboration)
Category: AI in Healthcare
A joint venture developing an AI-driven oncology pipeline with a scalable lipid nanoparticle (LNP) delivery system. Rakovina Therapeutics (with NanoPalm JV collaboration) was founded in 2020. The company is led by Kim Oishi (Rakovina CEO & Director), Ali Alhasan (NanoPalm CEO); Jeffrey Bacha retired from Rakovina's board of directors at the Aug 18, 2026 AGM and did not stand for re-election, now supports the company in an advisory capacity only. Based in North America and the Middle East (Canada and Riyadh, Saudi Arabia). Total funding raised: Rakovina Therapeutics has raised at least $7.5M (including a $1.99M non-brokered private placement closed August 2026), and NanoPalm has raised $5M.. Latest round: Post-IPO. Key investors include Dammam Valley, National Technology Development Program, Saudi Aramco.
- Founded
- 2020
- Headquarters
- North America and the Middle East (Canada and Riyadh, Saudi Arabia)
- Total funding
- Rakovina Therapeutics has raised at least $7.5M (including a $1.99M non-brokered private placement closed August 2026), and NanoPalm has raised $5M.
Value proposition
To accelerate the development of AI-discovered oncology drugs by combining a rapid discovery platform with a scalable and cost-effective LNP delivery technology, aiming to bring new cancer treatments to market faster.
Products and solutions
KT-3283: A dual PARP-HDAC inhibitor for oncology., A pipeline of other AI-discovered oncology drug candidates.
Unique value
The venture uniquely combines AI-powered drug discovery with a novel, scalable lipid nanoparticle (LNP) delivery technology to create a vertically integrated approach to cancer therapy development.
Target customer
Cancer patients who can benefit from targeted oncology therapies.
Industries served
Biotechnology, Pharmaceuticals, Oncology
Technology advantage
Rakovina's AI platform significantly reduces drug discovery timelines from years to months. NanoPalm's proprietary LNP technology allows for large-scale, cost-effective manufacturing of the delivery vehicle for the developed drugs. This synergy is expected to de-risk and accelerate the entire development process.
How they differentiate
Rakovina-NanoPalm differentiates itself by combining Rakovina's AI-driven platform for discovering novel dual PARP-HDAC inhibitors with NanoPalm's proprietary lipid nanoparticle delivery technology. This integration aims to create a seamless pipeline from drug discovery to scalable, cost-effective manufacturing.
Main competitors
AstraZeneca, GSK, Pfizer
Key partnerships
Joint venture collaboration with NanoPalm Ltd. (LOI signed Aug 12, 2025), Research collaboration with Variational AI Inc. using Enki AI platform for kt-5000 program (expanded Jan 8, 2026)
Notable customers
Not applicable at the pre-clinical stage. Active research collaborations with Variational AI and NanoPalm Ltd. Future customers would likely be larger pharmaceutical companies for licensing or acquisition.
Major milestones
Formation of the joint venture between Rakovina Therapeutics and NanoPalm Ltd. to develop AI-discovered oncology therapies., Initiation of the first development program, KT-3283, a dual PARP-HDAC inhibitor., Secured access to GMP-certified manufacturing facilities in Saudi Arabia through NanoPalm., Rakovina Therapeutics secured a $3M private placement in December 2024., NanoPalm raised $5M in a seed round in May 2024.
Growth metrics
As a pre-clinical stage venture, the primary growth metric is the advancement of its drug candidates through the clinical trial pipeline, starting with the KT-3283 program.
Market positioning
The joint venture is positioned as an innovative, early-stage biotech player focused on developing next-generation oncology therapies. It aims to disrupt the market by leveraging AI for rapid drug discovery and establishing a vertically integrated model with manufacturing capabilities in Saudi Arabia.
Geographic focus
The joint venture has a dual geographic focus on North America and the Middle East, with Rakovina Therapeutics based in Canada and NanoPalm Ltd. in Riyadh, Saudi Arabia.
Patents and IP
The joint venture leverages the intellectual property of both parent companies. Rakovina Therapeutics holds IP for its AI-discovered drug candidates, including KT-3283. NanoPalm Ltd. holds patents and IP for its novel lipid nanoparticle (LNP) formulation and delivery technology.
About Kim Oishi (Rakovina CEO & Director), Ali Alhasan (NanoPalm CEO); Jeffrey Bacha retired from Rakovina's board of directors at the Aug 18, 2026 AGM and did not stand for re-election, now supports the company in an advisory capacity only
Kim Oishi: Over 25 years capital markets experience; President & CEO of Grand Rock Capital Inc.; partner at First Growth Equity Partners Inc.; MBA in Finance and B.Sc. in Biochemistry from UBC. Jeffrey Bacha: Founder/Chairman; previously co-founded Kintara Therapeutics (CEO/Chairman); founding CFO of XBiotech; founding CEO of Inimex Pharmaceuticals.
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Official website: https://www.rakovinatherapeutics.com