Kineta to Collaborate on the Development of a Novel Non-Opioid Pain Therapy with Genentech
SEATTLE, April 16, 2018 /PRNewswire/ -- Kineta Chronic Pain, LLC, a subsidiary of Kineta, Inc., today announced that it has entered into an exclusive option and license agreement with Genentech, Inc., a member of the Roche Group, to develop Kineta's α9/α10 nicotinic acetylcholine receptor (nAChR) antagonists for the treatment of chronic pain.
The α9/α10 nAChR is a novel target for the treatment of chronic neuropathic pain. Preclinical data showed investigational compounds that specifically target the receptor reduced pain behaviors in animal models and demonstrated disease-modifying effects including reduced inflammation and nerve protection at the site of injury. This novel target is not believed to be expressed in the central nervous system and may lead to a safer therapy that is non-addictive and non-tolerizing.
"We are very excited to collaborate with Genentech as they are one of the world's leading biotech companies and an ideal strategic partner for Kineta," said Kineta CEO, Shawn Iadonato. "There is a tremendous unmet patient need to develop more effective, safer and non-addictive therapies for the many people who suffer from chronic pain. By collaborating with Genentech, we expect to accelerate the development of our promising novel non-opioid therapy for patients."
"We are excited to join forces with Kineta to develop potentially life-changing medicines for people with chronic pain conditions," James Sabry, M.D., Ph.D., Senior Vice President and Global Head of Genentech Partnering.
Under the terms of the agreement, Kineta will receive an undisclosed upfront payment and is eligible to receive development and commercialization milestone payments up to $359 million based on achievement of certain predetermined milestones. Additionally, Kineta is eligible to receive high single to low double-digit royalties on sales of certain products resulting from the collaboration. Genentech has an option to license assets developed during the collaboration. If Genentech exercises its option under the agreement, Genentech would be responsible for further development and commercialization.
Kineta, Inc. is an emerging biotechnology company that is focused on the translational development of first-in-class therapies from discovery to proof of concept. Kineta is developing a focused pipeline of novel drug candidates that address critical unmet patient needs in neuroscience, immuno-oncology, rare diseases and biodefense. We actively collaborate with a broad array of private, government, biodefense and industry partners to advance our innovative research. Development of the α9/α10 nAChR antagonists for chronic pain is through Kineta, Inc.'s subsidiary Kineta Chronic Pain, LLC. For more information on Kineta, Inc. visit our website, www.kinetabio.com.
NOTICE: This document contains certain forward-looking statements, including without limitation statements regarding Kineta's plans for pre-clinical and clinical studies, regulatory filings, and anticipated drug effects in human subjects. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties inherent in Kineta's business which could significantly affect expected results, including without limitation progress of drug development, ability to raise capital to fund drug development, clinical testing and regulatory approval, developments in raw material and personnel costs, and legislative, fiscal, and other regulatory measures. All forward-looking statements are qualified in their entirety by this cautionary statement, and Kineta undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
CONTACT: Jacques Bouchy, firstname.lastname@example.org, (206) 378-0400
View original content with multimedia:http://www.prnewswire.com/news-releases/kineta-to-collaborate-on-the-development-of-a-novel-non-opioid-pain-therapy-with-genentech-300629860.html
SOURCE Kineta, Inc.