Utilizing CMO Infrastructure, Supplying Preclinical Immuno-Oncology Samples to Kineta
Humedics Plant 2. Photo by Humedics
[Asia Economy Reporter Seo So-jung] Humedix (CEO Kim Jin-hwan) announced on the 5th that it recently held a board meeting and resolved to sign a strategic equity investment agreement with Kineta, a U.S. company developing immune-oncology antibody therapeutics. The investment amount is $2 million, through which Humedix will acquire a 1.56% stake in Kineta.
Through this strategic investment, Humedix plans to accelerate the development and commercialization of Kineta's pipelines from the preclinical stage by utilizing the manufacturing facilities of PanGen, a partner company of Humedix. Additionally, Humedix has secured exclusive commercialization rights in Korea for immune-oncology drugs, including the breast cancer drug 'VISTA' currently under development by Kineta and scheduled for contract manufacturing by Samsung Biologics.
Kineta is a U.S. biotech company established in Seattle in 2007, researching and developing immune-oncology drugs, chronic neuropathic pain treatments, and antiviral therapies. It was recognized for its R&D capabilities by being selected as one of the 'Top 10 Immunotherapy Companies of 2020' by the global pharmaceutical media Pharma Tech Outlook.
Kim Jin-hwan, CEO of Humedix, said, "Kineta is a biotech company recognized for its technology to the extent of successfully forming strategic alliances with global companies such as Pfizer and Genentech. With this investment, we plan to continuously pursue partnerships for contract manufacturing (CMO) business in the short term and domestic commercialization cooperation for immune-oncology new drugs in the long term."
Dr. Sean Park, CEO of Kineta, stated, "We are pleased to collaborate with Humedix on the development and commercialization of multiple new drugs, including the immune-oncology drug VISTA, which will proceed to clinical phase 1. As clinical trials for several pipelines under development by Kineta are scheduled, we expect the synergy between the two companies to be amplified."
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