Kinarus Therapeutics Announces Name Change and Commences Trading on the SIX Swiss Exchange under ticker “KNRS”
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Kinarus AG
/ Key word(s): Merger/Miscellaneous
Basel, Switzerland, 10 June 2022. Kinarus Therapeutics Holding AG (SIX: KNRS) (“Kinarus”), a clinical-stage biopharmaceutical company engaged in the discovery and development of novel therapeutics for the treatment of viral, respiratory, and ophthalmic diseases, announced that it has changed its name and that trading of its shares on the SIX Swiss exchange will continue today under the new ticker symbol KNRS. Kinarus AG’s board and executive management now have full responsibility for leadership of Kinarus Therapeutics and the Company’s headquarters has been moved to Basel. These actions complete the previously announced “reverse takeover” transaction with Perfect Holding SA (previously SIX: PRFN) in which Perfect Holding acquired Kinarus AG by way of a share exchange. “The entire Kinarus team is very proud of our successful listing on the SIX Swiss Exchange. This accomplishment represents an important leap forward along our exciting journey to advance effective treatments focused on the needs of patients suffering from serious diseases,” commented Alexander Bausch, CEO of Kinarus. “We look forward to accelerating clinical development of our orally available small molecule therapeutic candidate KIN001, which recently received U.S. patent protection through 2037, and was granted significant support from the Swiss Federal Office of Public Health.” Kinarus was advised by Raiffeisen Switzerland (listing agent), Schellenberg Wittmer Ltd (legal counsel) and Ventac Partners (corporate development) during the transaction. KIN001 is currently advancing its mid-stage clinical development portfolio targeting several major disease areas with important unmet medical need:
KIN001 is a proprietary patented combination of pamapimod, a highly selective investigational small molecule inhibitor of p38 mitogen-activated protein kinase (p38 MAPK), and pioglitazone, a marketed drug for the treatment of type 2 diabetes. Kinarus discovered through its own research that the combination of pamapimod with pioglitazone (i.e. KIN001) produced synergistic efficacy and increased the durability of response in animal models. KIN001 reduced pathological blood vessel growth (neovascularization) in the choroid of the eye in animal models of wet AMD. AMD is the most common cause of visual impairment among elderly patients in developed countries. KIN001 also reduced inflammation and tissue fibrosis in animal models of lung disease, supporting development as a treatment for IPF, and as a potential therapy to reduce lung damage in COVID-19. In vitro, KIN001 demonstrated antiviral activity against SARS-CoV-2, including against recent variants of concern. Kinarus received a grant of up to CHF 7 million from the Programme for COVID-19 medicines of the Swiss Federal Office of Public Health to support KIN001’s clinical development. KIN001 enjoys broad patent protection in the US, EU, China, and other countries through at least 2037. Kinarus Therapeutics Holding AG (www.kinarus.com) was founded in 2017 by experienced pharmaceutical executives in Basel, Switzerland. Kinarus’ approach to develop late-stage clinical assets in new indications substantially increases probability of clinical and regulatory success and reduces time-to-market.
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Legal disclaimer THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO SELL NOR AN INTIMATION TO SUBMIT A PROPOSAL FOR THE ACQUISITION OF SECURITIES OF KINARUS THERAPEUTICS HOLDING AG. THIS PRESS RELEASE IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, INTO OR WITHIN ANY JURISDICTION WHERE IT IS UNLAWFUL TO BE DISTRIBUTED.
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