Kinaset Therapeutics, a clinical-stage biopharmaceutical company developing a novel and differentiated inhaled therapeutic candidate to treat serious respiratory diseases, today announced the closing of a $103 million Series B financing. New investors RA Capital Management and Forge Life Science Partners led the financing, with participation from new investors EQT Life Sciences, Vivo Capital, Schroders Capital, Willett Advisors, Pictet Alternative Advisors, Sixty Degree Capital and existing investors, Atlas Venture, 5AM Ventures and Gimv.
“Since day one, our goal has been to develop a best-in-class therapeutic for the treatment of severe inflammatory respiratory disease. Critically, and unlike the majority of existing therapeutics, frevecitinib has the potential to benefit all patients with severe asthma, including those with a non-eosinophilic phenotype who continue to suffer from an absence of safe and effective therapies,” said Robert Clarke, PhD, CEO of Kinaset Therapeutics.
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“This financing marks a significant milestone for Kinaset to execute our vision of advancing frevecitinib through a Phase 2 dose ranging clinical study in patients with severe asthma, and potentially beyond. The participation of leading life science investors underscores both the strength of our team and the critical unmet need we aim to address with frevecitinib.”
Proceeds from this financing are planned to be used to advance frevecitinib, a novel inhaled dry powder in development for patients with asthma that remains inadequately controlled by standard of care inhaled maintenance therapies. Frevecitinib is uniquely formulated to deliver therapeutic lung concentrations through a single-capsule dry powder inhaler, designed to minimize systemic exposure.
“Asthma is one of the most prevalent chronic respiratory conditions worldwide, affecting millions of individuals with a large proportion not adequately controlled on standard of care treatments. Frevecitinib has the potential to be the first novel mechanism, inhaled anti-inflammatory agent for asthma patients in decades. We are proud to support Kinaset and the continued development of its inhaled, broad acting JAK inhibitor to bring this much needed treatment to all patients with severe asthma,” said Henry Stusnick of RA Capital Management.
“With compelling early clinical data, an excellent safety profile and potential to address an important unmet need for asthma patients, Kinaset represents the type of company we seek to invest in,” said Anand Mehra, MD, Managing Partner, Forge Life Sciences. “We’re confident Kinaset is well positioned for success as it advances frevecitinib through clinical studies, and we are excited to support this next chapter in its growth.”
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