Kinaset Therapeutics, a clinical-stage biopharmaceutical company focused on developing inhaled therapies for severe respiratory diseases, announced it has closed a $103 million oversubscribed Series B financing to fund mid-stage development of frevecitinib, its lead inhaled anti-inflammatory candidate for severe asthma and other serious respiratory diseases. The round was led by new investors RA Capital Management and Forge Life Science Partners, with participation from EQT Life Sciences, Vivo Capital, Schroders Capital, Willett Advisors, Pictet Alternative Advisors, and Sixty Degree Capital, alongside existing backers Atlas Venture, 5AM Ventures, and Gimv.
Kinaset said proceeds will be used to advance frevecitinib through Phase 2 studies, including a Phase 2 dose-ranging trial in patients with severe asthma. The company describes frevecitinib as a novel inhaled pan-JAK inhibitor designed to act directly in the lungs while limiting systemic exposure, positioning it as a potential option for a broad severe asthma population, including patients with non-eosinophilic disease who have fewer effective treatment choices.
Frevecitinib is being developed as a dry-powder, single-capsule formulation delivered via a dry powder inhaler intended to achieve therapeutic lung concentrations while minimizing drug levels in the bloodstream. The molecule targets JAK1, JAK2, JAK3 and TYK2, a breadth the company says could support activity across both Th2- and Th1-driven inflammatory pathways.
In connection with the financing, Kinaset added three new directors to its board: Henry Stusnick of RA Capital Management, Daniela Begolo of EQT Life Sciences, and Peter B. Silverman of Forge Life Science Partners, who previously served as chief operating officer of Merus N.V.
KEY QUOTES:
“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. 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.”
Robert Clarke, PhD, CEO, Kinaset Therapeutics
“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.”
Henry Stusnick, 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. 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.”
Anand Mehra, MD, Managing Partner, Forge Life Science Partners
