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
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