London, UK, 25 August 2022

Kinarus Therapeutics (KNRS): Initiation - A unique combination targeting unmet needs

Kinarus Therapeutics is advancing KIN001, a patented orally dosed combination of p38 mitogen-activated protein kinase inhibitor pamapimod (in-licensed from Roche) and pioglitazone. Preclinical data suggest this combination may have antiviral, anti-inflammatory and anti-fibrotic activity. KIN001 is under development for the treatment of wet age-related macular degeneration (wet AMD), idiopathic pulmonary fibrosis and COVID-19. Kinarus plans to start a Phase II study in wet AMD, its lead indication, before the year end, backed by preclinical data suggesting potential benefit in reducing choroidal neovascularisation lesions. There are currently no oral drugs approved to treat wet AMD, which suggests there is a potentially significant unmet need.

Kinarus became public in Q222 through a reverse merger transaction with Perfect Holding. Given its pro forma CHF8.8m FY21 gross cash position and assuming no change in its normalised CHF5.5m FY21 free cash flow burn rate, these funds would be expected to last into mid-2023. The funding runway could be extended by Kinarus’s recent agreement to issue up to CHF20m in convertible notes to an entity manged by Yorkville. The company expects its total expenditures to be up to CHF25m to advance all three programmes through FY24.

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