A couple of interesting articles today about Airmid teaming up with Kineta to move their Kv1.3 channel blocker into phase 1 trials quickly. I hope this pans out...
Kineta Acquires Novel Drug Candidates from Airmid for Potential Treatment of Multiple Sclerosis, Type 1 Diabetes and other Autoimmune
July 7, 2009 | Kineta, Inc. of Seattle and Airmid Incorporated of Redwood City, CA jointly announce an agreement in which a Kineta subsidiary has acquired exclusive commercial rights to a portfolio of novel therapeutic compounds from Airmid. The array of compounds holds extraordinary potential for the treatment of multiple sclerosis, type 1 diabetes mellitus and numerous other autoimmune diseases.
“This transaction is a significant milestone for Airmid. It places our peptidic Kv1.3 blockers into the very capable hands of Kineta’s drug development team, sets Airmid on a path to provide substantial return-on-investment for our shareholders, and provides funding to enhance the value of Airmid’s retained assets,” said George Miljanich, Ph.D., CEO of Airmid. Under the terms of the deal, Airmid will receive upfront payments, development, regulatory and commercial milestones as well as sales royalties.
Airmid founder, K. George Chandy, MD, Ph.D., also applauded the announcement: “Kineta possesses both the scientific capacity and the track record of success necessary to advance these promising therapeutics toward the goal of conquering multiple devastating autoimmune diseases.”
Following today’s agreement, Kineta One, LLC (a subsidiary of Kineta, Inc.) will aggressively pursue additional preclinical studies on a lead compound. The company intends to file an investigational new drug (IND) application with the FDA and begin clinical trials in 2010. “We are very excited to move forward. Dr. Chandy is an extraordinary scientist who has made an exceptional contribution to the scientific field of autoimmune disease. He will remain an integral advisor to our scientific team,” said Kineta President and CEO, Charles Magness, Ph.D.
for the rest: Pipelinreview
This is another article that describes Kineta a little more: