New Funding for Kineta’s Novel Antiviral Program Targeting the Spectrum of Global Diseases

$2.8 Million Grant to Enhance Innate Immunity

SEATTLE--(BUSINESS WIRE)-- Kineta, Inc. announced today its next generation antiviral program has received a 2.8 million dollar grant from the National Institute of Allergy and Infectious Disease, a part of the National Institutes of Health (NIH). Awarded under the Small Business Innovation Research (SBIR) program, the prestigious phase two grant will provide on-going support for Kineta’s work on a new class of antiviral drugs targeting an array of global, deadly viruses.

“This award validates the tremendous progress Kineta scientists have made toward developing high priority, broad based, antiviral therapeutics. We have rapidly discovered five families of drug candidates that activate an essential innate immune pathway. With this new infusion of support from the NIH, we will advance at least one lead drug candidate for clinical development,” said Charles L. Magness, Ph.D., President and Chief Executive Officer.

Kineta’s program, Agonists of the Retinoic Acid Inducible Gene I (RIG-I) Innate Immune Pathway, focuses on targeting RNA viruses including: hepatitis C, influenza, West Nile virus, respiratory syncytial virus (RSV), Dengue fever and the common cold. Currently treatment of these conditions is severely limited by of the lack of effective drugs available. RIG-I is a molecular "on/off" switch that triggers the human body's innate immune defenses against viruses. Kineta’s novel research has received support and praise from U.S. Senator Maria Cantwell among other thought leaders.

Kineta scientists plan to advance their work first by optimizing the lead drug candidates, then further characterizing their mechanisms of action and continuing pre-clinical studies necessary to select lead candidates. The company anticipates selecting the first lead drug candidate in 2012.

For more information on today’s announcement contact Meg O’Conor director of corporate communications, [email protected], 206-251-8638.

Kineta, Inc. is a Seattle-based privately held biotechnology company specializing in clinical advancement of immunotherapeutic drug candidates. Our world class scientists are pioneers in developing life-changing classes of drugs that harness the power of the immune system to fight disease. Kineta seeks to improve the lives of millions of people suffering from autoimmune and viral diseases. Our progressive business model focuses on targeting unmet medical needs and rapid achievement of important clinical milestones. For more information on Kineta, Inc. visit our website, www.Kinetabio.com

The project described is supported by Award Number, 2R44AI081335-03A1 from the National Institute of Allergy And Infectious Diseases. The content is solely the responsibility of the authors and does not necessarily represent the official views of the National Institute of Allergy And Infectious Diseases or the National Institutes of Health.

NOTICE:

This document contains certain forward-looking statements, including without limitation statements regarding Kineta’s plans for preclinical studies and prospective FDA filings. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties inherent in Kineta’s business which could significantly affect expected results, including without limitation progress of drug development, clinical testing and regulatory approval, developments in raw material and personnel costs, and legislative, fiscal, and other regulatory measures. All forward-looking statements are qualified in their entirety by this cautionary statement, and Kineta undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.



CONTACT:

Kineta, Inc.
Meg O’Conor, director of corporate communications, 206-251-8638
[email protected]

KEYWORDS:   United States  North America  Washington

INDUSTRY KEYWORDS:   Health  Biotechnology  Clinical Trials  Infectious Diseases  Pharmaceutical

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