Publication of unaudited financial statements of Kinarus Therapeutics Holding AG (only) for FY2023

Kinarus Therapeutics Holding AG / Key word(s): Annual Results

28-Feb-2024 / 07:10 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 LR
The issuer is solely responsible for the content of this announcement.

Ad hoc announcement pursuant to Art. 53 LR

These financial statements published today are unaudited and may be subject to change.

Reader of these financial statements shall not place undue reliance on it. Any decision should be made solely on the basis of the audited financial statements which will supersede these financial statements in its entirety.

Basel, Switzerland, 28 February 2024: Kinarus Therapeutics Holding AG (SIX:KNRS) (“Kinarus Holding”, “KNRS” or the “Company”), a SIX Swiss Exchange listed therapeutic drug development company has released today, in advance of the Extraordinary General Meeting of Kinarus Holding scheduled for Friday, 1 March, 2024 whereas various resolutions relating to the previously announced envisaged Business Combination with Curatis AG (“Curatis”) are proposed to be resolved, the unaudited financial statements of Kinarus Therapeutics Holding AG for FY2023. As Kinarus AG remains in Liquidiation, no consolidated financial statements are published for Kinarus Group for FY2023.

Work on the implementation of the envisaged Business Combination between Kinarus Holding and Curatis AG is ongoing. Subject to the approval of the Extraordinary General Meeting of Kinaurus Holding and other conditions set forth in the transaction agreement signed with Curatis related to the envisaged Business Combination, closing of the Business Combination is expected for the end of April 2024.

About Kinarus

Kinarus AG in Liquidation (www.kinarus.com) was founded in 2017 by experienced pharmaceutical executives in Basel, Switzerland. The Kinarus Group consists of the SIX Swiss Exchange listed Kinarus Therapeutics Holding AG and the operating fully owned subsidiary Kinarus AG in Liquidation. Both Kinarus Therapeutics Holding AG and Kinarus AG in Liquidation have filed for bankruptcy in September 2023 after a financing agreement with a Chinese investment company in May 2023 has not led to the agreed payments. Kinarus AG in Liquidation possesses the exclusive worldwide license to pamapimod, covering all indications, and has patented KIN001, its novel mechanism in combination with pioglitazone.

Kinarus Holding has announced on 29 January 2024 that it has entered into a transaction agreement with Curatis AG regarding a contemplated business combination (as further described in the press release dated 29 January 2024). Curatis AG has settled all liabilities which were filed in the creditors' call (Schuldenruf) of Kinarus Therapeutics Holding AG. Kinarus AG in Liquidation remains in liquidation.

For more information, please visit the company’s website at www.kinarus.com.

Investor Relations Contact:
YUMA Capital 
Thomas Bieri
Managing Partner

Tel: +41 44 575 2001
thomas.bieri@yuma-capital.com

Disclaimer

THIS ANNOUNCEMENT IS NOT AN OFFERING MEMORANDUM OR PROSPECTUS AND IS FOR INFORMATION PURPOSES ONLY. THIS ANNOUNCEMENT DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER OF, OR SOLICITATION TO PURCHASE OR SUBSCRIBE FOR, THE SECURITIES REFERRED TO IN THIS ANNOUNCEMENT IN THE UNITED STATES, AUSTRALIA, CANADA, SOUTH AFRICA OR JAPAN OR IN ANY OTHER JURISDICTION IN WHICH OFFERS OR SALES OF SUCH SECURITIES WOULD BE RESTRICTED BY APPLICABLE LAW OR REGULATION. SUCH SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION, EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN TRANSACTIONS NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF SAID ACT, AND APPLICABLE STATE OR LOCAL SECURITIES LAWS. SUCH SECURITIES ARE NOT BEING OFFERED IN THE UNITED STATES OR TO US PERSONS.