US-based startup Kinaset Therapeutics has signed a licensing and develop an inhaled pan-JAK inhibitor that was in Vectura’s pipeline prior to that company’s transformation into an inhalation CDMO. In July 2019, Vectura announced that it intended to find partners for development of its inhaled drug candidates. The pan-Jak inhibitor, called VR588 by Vectura and now known as KN-002, is in preclinical development for the treatment of asthma, and Kinaset said that it expects to initiate a Phase 1/1b trial in the first half of 2021.
Kinaset said that it has raised $40 million in a Series A financing for development and commercialization of KN-002. According to Vectura, Kinaset will pay Vectura for development services related to KN-002/VR588, beginning with developing a DPI formulation for Phase 1 trials; the deal also includes future milestone and royalty payments. The deal also allows Kinaset to develop VR588 for additional indications, for which Vectura would also be due milestone and royalty payments.
Kinaset is led by a team with extensive experience in respiratory drug delivery, including several executives who recently left Vectura. CEO Robert Clarke Chief Executive Officer Robert Clarke headed up Pulmatrix before stepping down as CEO in May 2019, and Chairman of the Board Thomas B. King led Alexza until its 2016 acquisition by Grupo Ferrer. Former Vectura executives on the Kinaset team include Chief Business Officer Roger Heerman and Chief Development Officer Frazer Morgan.
Vectura CEO Will Downie said, “We look forward to working closely with Kinaset to support their development of this product, with the potential to bring a new treatment option to asthma patients in the future. This agreement is in line with our CDMO strategy to leverage our deep expertise, built through years of research in inhaled drug development, to help customers bring new inhaled therapies to market.”
King commented, “I am excited to be part of Kinaset Therapeutics and their plans to deliver a next-generation therapeutic for the severe asthma population. The highly experienced management team and board coupled with the exclusive global license from Vectura provide a great springboard for the launch of Kinaset. Vectura’s profile as a world-class CDMO with multiple approved inhaled therapeutics make them a trusted partner as we move KN-002 to our upcoming clinical trial.”
Clarke added, “Our goal is to build Kinaset into a leading respiratory therapeutics company focused on patients starting with KN-002. Severe asthmatics continue to suffer from the limited availability of safe and effective treatment options. We believe that our inhaled pan-JAK inhibitor, KN-002, has the potential to be a best-in-class therapeutic for this population. In addition, KN-002 could be a less-invasive and more cost-effective alternative to currently approved parenteral biologicals used in the treatment of severe asthma.”
Read the Kinaset press release.
Read the Vectura press release.
