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Kinnate Biopharma Inc. Announces Acquisition Of Ownership Stake From Series A Investors Of The China Joint Venture, Kinnjiu Biopharma Inc., And Initiation Of Phase 1 Clinical Trial For Exarafenib (Kin-2787) In People'S Republic Of China

Feb 21, 2023•almost 3 years ago

Acquiring Company

Kinnate Biopharma

Acquired Company

Ownership Stake

San DiegoMedicalBiotechnologyHealth CareTherapeutics

Description

Kinnate Biopharma Inc. (Nasdaq: KNTE) (“Kinnate”), a clinical-stage precision oncology company, today announced that it has acquired ownership stake of Kinnjiu Biopharma Inc. (“Kinnjiu”) previously held by the Series A investors using a combination of Kinnate shares and cash. Kinnate retains Kinnjiu’s cash, intellectual property and other assets, including key personnel and the legal entity structure. The transaction does not impact Kinnate’s cash runway, with current cash, cash equivalents and investments expected to fund current operations into mid-2024. The company also announced that KN-8701, a Phase 1 clinical trial evaluating its pan-RAF inhibitor, exarafenib, was initiated in the People's Republic of China (PRC), with trial sites now open in PRC and Taiwan.

Company Information

Company

Kinnate Biopharma

Location

San Diego, California, United States

About

Kinnate Biopharma Inc. is a clinical-stage precision oncology company focused on expanding on the promise of targeted therapies for those battling cancer. The company is developing medicines for known oncogenic drivers where there are no approved targeted drugs and to overcome the limitations of marketed cancer therapies, such as non-responsiveness or acquired and intrinsic resistance. Kinnate has two lead clinical programs being studied in solid tumors with RAF, NRAS and FGFR-driven alterations, and is rapidly progressing a pipeline of additional small molecule drug candidates as part of the Kinnate Discovery Engine. The company is driven by the urgency and knowledge that patients are waiting for new, effective cancer medicines. For more information, visit Kinnate.com and follow us on LinkedIn.

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