Kinetix Completes Financing for Kinase Inhibitor Drug Discovery Programs

Kinetix Pharmaceuticals Inc. (Medford, MA) has completed an $8.8 million series B private financing to advance its kinase inhibitor drug discovery programs. Protein kinases—enzymes that play a key role in regulating the growth, differentiation, and activation of cells—are implicated in a number of human diseases, such as autoimmune disorders, asthma, arthritis, and cancer.

Participants in the financing included Schroder Ventures International Life Sciences Fund, Jafco Co. Ltd., Lombard-Odier Immunology Fund, Zero Stage Capital, and The Novartis Venture Fund. Kinetix has also appointed Hingge Hsu, principal of Schroder Ventures Life Sciences, to the company's board of directors.

"Since Kinetix began laboratory operations a year and half ago, we have already identified and filed patent applications on compounds in all four of our target therapeutic programs," said Nicholas Lydon, president and CEO of Kinetix. "We plan to advance and commercialize these small molecules through collaborations with leading pharmaceutical and biotechnology companies in each of our program areas. Specifically, we will provide these partners with novel lead kinase inhibitors for accelerated pharmaceutical development."

Kinetix Pharmaceuticals focuses on the discovery and development of orally active, small molecule drugs that inhibit protein kinases, a class of biological regulators. When kinases function improperly, however, these enzymes may also contribute to a number of human diseases including autoimmune disorders, asthma, arthritis, and cancer. Kinetix uses virtual screening, computer-aided drug design, x-ray crystallography, and an array of enzyme assays to find new drugs that may successfully block these kinases. The company is pursuing initial applications in immunological disorders, asthma/allergy, inflammation, and cancer/angiogenesis, and has identified proprietary compounds in all of these programs to date.

Kinetix Pharmaceuticals Inc. is a privately held biopharmaceutical company.

For more information: Nicholas Lydon, Kinetix Pharmaceuticals Inc., Kinetix Pharmaceuticals Inc., 200 Boston Ave., Medford, MA 02155. Tel: 781-391-7577. Fax: 781-391-5771.