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Yumanity Signs a Purchase Agreement with Janssen for YTX-7739 & Reverse Merged with Kineta to Advance KVA12.1

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Yumanity Signs a Purchase Agreement with Janssen for YTX-7739 & Reverse Merged with Kineta to Advance KVA12.1

Yumanity Signs a Purchase Agreement with Janssen for YTX-7739 & Reverse Merged with Kineta to Advance KVA12.1

Shots:

  • Janssen to acquire Yumanity’s YTX-7739 & unpartnered R&D stage neuroscience product candidates for $26M in cash. Kineta reverse merged with Yumanity in an all-stock transaction to advance Kineta’s KVA12.1 (VISTA blocking immunotherapy) & the transactions are expected to close in H2’22
  • Kineta will continue Yumanity’s ongoing research with Merck in ALS & FTD. Following the completion of the proposed merger on a pro forma basis, Kineta stockholders are expected to own ~85% while Yumanity stockholders will own ~15% of the combined company, PIPE financing will be closed by the combined company
  • Kineta's KVA12.1 is an IgG1 mAb that was developed to interact with VISTA via a unique epitope and could be used as an effective immunotherapy for multiple types of cancer

Ref: Globenewswire | Image: Yumanity

Click here to­ read the full press release 

Neha

Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.

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