Kineta finalizes reverse merger with Yumanity, secures additional funding
Seattle-based biotech, Kineta Inc., recently completed a reverse merger with biotech Yumanity Therapeutics. Along with the merger, Kineta closed a $7.5 million private investment in public equity (PIPE) and expects to have secured a further $22.5 million in PIPE financing by the end of March 2023, according to Puget Sound Business Journal.
The company intends to begin clinical trial enrollment in January for KVA12123, a drug designed to bolster cancer patients’ immune response. In addition to KVA12123 clinical trials, the company plans to submit an investigational new drug application for T-cell treatment at the beginning of 2024.
“We remain on track to report interim safety and efficacy data for KVA12123 in patients with advanced solid tumors in late 2023,” Kineta CEO, Shawn Iadonato. “We greatly appreciate the support of our investors as we continue to deliver on our mission of developing next-generation immunotherapies that transform patients’ lives.”