Kineta Inc. Pulls in $5.8 Million for Autoimmune Drug
8/14/2012 7:17:20 AM
Seattle-based Kineta has continued raising cash to fuel its unconventional business model for drug development. Kineta One, a unit within the Kineta parent company, has raised $5.8 million in new equity financing from a group of 133 investors, according to a filing with the Securities and Exchange Commission. The money will be used to develop a drug called ShK-186 a drug program that Kineta says has potential against various autoimmune diseases like multiple sclerosis, Type 1 diabetes, and lupus, says Meg O’Conor, the company’s investor relations director.