30/11/2020 – 08:00 | Portfolio
Gimv invests in Kinaset Therapeutics alongside 5AM Ventures and Atlas Venture in a USD 40m Series A round to support the clinical development of KN-002, a novel dry powder inhalable pan-JAK inhibitor, for the treatment of eosinophilic and non-eosinophilic severe asthma.
Today, the Company also announced an exclusive global in-license and development agreement with Vectura Group plc (LSE: VEC) (“Vectura”) to develop and commercialize KN-002 (formerly known as VR588). A Phase 1/1b clinical trial in healthy volunteers and patients is poised to begin in the first half of 2021.
Kinaset Therapeutics intends to develop novel therapeutics that can positively impact people affected by intractable diseases, including severe asthma. Asthma is a complex and heterogeneous disease affecting over 300 million people worldwide, with approximately 10% of patients having severe asthma who suffer from frequent exacerbations, compromised lung function, and a reduced quality of life. The company is led by an experienced management team and board of directors with strong backgrounds in the development of respiratory therapeutics.
Bram Vanparys, Partner at Gimv, commented: “I am excited for Gimv to be part of Kinaset Therapeutics, and to support the company in bringing KN-002 to the clinic. Kinaset Therapeutics perfectly fits Gimv’s strategy of investing in drug development companies combining solid science, a strong data package and an experienced team.”
Thomas Harth, Senior Associate at Gimv, adds: “The best-in-class profile and tailormade dry-powder formulation captured our interest from the early start. Together with this very experienced and dedicated management team we are convinced KN-002 can make a real difference to severe asthma patients that have limited treatment options today.”
For further information, we refer to the company’s press release in attachment.