Kineta Announces the Extension of the TuHURA Biosciences Exclusivity and Right of First Offer Agreement for KVA12123, Kineta’s VISTA blocking antibody Currently in Phase 1

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Kineta, Inc.
Kineta, Inc.

TuHURA has extended their exclusivity and right of first offer pursuant to the terms of the agreement.

Kineta and TuHURA are collaborating on the ongoing Phase 1/Phase 2 clinical trial in patients with advance solid tumor cancer

SEATTLE, Oct. 02, 2024 (GLOBE NEWSWIRE) -- Kineta, Inc. (OTC Pink: KANT) (“Kineta” or the “Company”), a clinical-stage biotechnology company focused on the development of novel immunotherapies in oncology that address cancer immune resistance, announced today that TuHURA Biosciences Inc (TuHURA) is exercising its right to extend their exclusivity and right of first offer agreement (the “Agreement”) for Kineta’s VISTA blocking antibody KVA12123. Under the terms of the Agreement entered in July 2024 between Kineta and TuHURA, TuHURA has the right to extend their rights for up to two 10-day periods. Kineta is entitled to receive $150,000 for each 10-day extension.

“In February, Kineta announced that it would be exploring strategic alternatives for the company to maximize shareholder value. This priority continues, and I look forward to providing additional information on this front later this year,” said Craig W. Philips, President, Kineta. “Through the exclusivity and right of first offer agreement with TuHURA for KVA12123, we reopened the Phase 1 clinical study in August 2024 and are currently enrolling patients into this study in advanced solid tumor cancers. Kineta is focused on completing the enrollment of the Phase 1 trial by year end 2024.”

“KVA12123 is a novel, differentiated new treatment alternative for patients with cancer. The progress being made in the clinical trial is encouraging. As TuHURA continues our diligence, I have been pleased with the enthusiasm for KVA12123 that I have seen in the medical community. VISTA expression is broadly observed in patients with a number of solid and hematologic cancers. KVA12123 may provide a valuable therapeutic alternative to improving the treatment of patients with cancer,” said Dr. James A. Bianco, Chief Executive Officer of TuHURA.

On July 8, 2024, Kineta announced that it had entered into the Agreement with TuHURA, a Phase 3 registration-stage immuno-oncology company developing novel technologies to overcome resistance to cancer immunotherapy. As part of the Agreement, Kineta received a $5 million nonrefundable payment from TuHURA in July 2024. Under the terms of the Agreement, any payment made by TuHURA in consideration for Kineta’s compliance with its obligations set forth in the Agreement will be credited to the upfront payment from TuHURA if a transaction between the parties is completed. In August, Kineta announced that in collaboration with TuHURA, it reopened enrollment in the VISTA-101 clinical trial. Kineta and TuHURA continue to collaborate on the ongoing Phase 1 clinical program for patients with advanced solid tumor cancer.