TuHURA Biosciences Enters into Exclusivity and Right of First Offer Agreement for Kineta, Inc.'s KVA12123 Novel anti-VISTA Checkpoint Inhibitor
TuHURA Biosciences has entered into an Exclusivity and Right of First Offer Agreement with Kineta for the potential acquisition of the anti-VISTA antibody KVA12123 and related assets. KVA12123 targets VISTA, a checkpoint on quiescent T-cells, to reverse immune suppression and remodel the tumor microenvironment. This inhibitor is currently in Phase 1/2 clinical trials, showing favorable safety and tolerability. Concurrently, TuHURA secured a $5 million investment from an existing shareholder to support its Phase 3 trial and ADC development. The agreement includes a payment of $2.5 million at signing, with an additional $2.5 million due by July 15, 2024, and a 90-day exclusivity period.
- KVA12123 has shown a favorable safety and tolerability profile in Phase 1/2 trials.
- The agreement potentially adds a novel checkpoint inhibitor to TuHURA's pipeline.
- TuHURA secured a $5 million investment to support its ongoing and future trials.
- TuHURA is required to pay $5 million, which could affect its financials.
- The exclusivity agreement is to 90 days, creating time pressure.
Insights
The recent announcement by TuHURA Biosciences regarding their exclusivity and right of first offer agreement for Kineta's KVA12123 is noteworthy for several reasons from a financial perspective. Firstly, the additional
It's also important to consider the financial implications and potential returns of acquiring KVA12123. This checkpoint inhibitor could potentially enhance TuHURA’s pipeline, leading to new revenue streams and strengthening their market position in the oncology space. However, investors should remain cautious regarding the performance of the ongoing clinical trials and the industry risks associated with biotech investments, such as regulatory hurdles and competition from other emerging therapies.
In the short term, this agreement appears to be a positive move, indicating confidence from existing shareholders and a clear strategic direction. In the long term, the true financial benefit will hinge on the successful development and commercialization of KVA12123.
From a medical research perspective, the focus on KVA12123 as an anti-VISTA checkpoint inhibitor is intriguing. VISTA (V-domain Ig suppressor of T cell activation) is a relatively novel target in immunotherapy, known for its role in maintaining T-cell quiescence and contributing to immune suppression within the tumor microenvironment (TME). Targeting VISTA could potentially overcome resistance mechanisms that current checkpoint inhibitors cannot address, particularly in tumors that do not respond well to traditional therapies.
The fact that KVA12123 is currently in a Phase 1/2 clinical trial, both as a monotherapy and in combination with Merck's KEYTRUDA®, adds a layer of credibility and highlights the potential synergies with existing immunotherapies. The early clinical data showing a favorable safety and tolerability profile is promising, but it is essential to monitor the upcoming trial results closely to see if these initial findings translate into substantial clinical benefits.
Understanding the specific mechanisms of action and the impact on various cancer types, especially those with high VISTA expression like gynecologic cancers, will be crucial. This approach could potentially revolutionize treatment paradigms for these hard-to-treat cancers if successful.
Analyzing the broader market context, TuHURA Biosciences' strategic move to secure rights to KVA12123 positions them favorably within the competitive landscape of immune-oncology. The emphasis on VISTA as a novel checkpoint is a unique differentiator. Given the competitive nature of the oncology market, with numerous companies racing to develop next-generation immunotherapies, having a distinct target could provide TuHURA with a competitive edge.
The exclusivity agreement and the structured payment terms reflect a well-negotiated deal that minimizes immediate financial strain while securing future potential. The concurrent $5 million investment from an existing shareholder demonstrates internal confidence and provides additional capital for ongoing and future research endeavors.
In the long run, TuHURA's success with KVA12123 will depend on continuous innovation and positive clinical outcomes. If the drug shows efficacy in overcoming resistance in cancers that currently evade treatment, it could capture significant market share. However, the inherent uncertainties in clinical trials and regulatory approvals should temper expectations. Investors should remain vigilant and consider both the high potential rewards and the associated risks.
KVA12123 is a rationally targeted, anti-VISTA antibody checkpoint inhibitor to reverse VISTA immune suppression and remodel the tumor microenvironment (TME) to overcome acquired resistance to immunotherapies
KVA12123 is currently in a Phase 1/Phase 2 clinical study as a monotherapy and in combination with Merck's anti-PD1 therapy, KEYTRUDA® (pembrolizumab), in patients with advanced solid tumors
To date, KVA12123 has demonstrated a favorable clinical safety and tolerability profile observed with no dose limiting toxicities and no evidence of Cytokine Release Syndrome (CRS) associated toxicities at doses examined
Concurrent
"KVA12123 has multiple synergies with both of our IFx and Delta receptor technologies and could be a promising addition to our pipeline, bringing in a potential Phase 2 ready, novel checkpoint inhibitor," commented Dr. James Bianco, Chief Executive Officer of TuHURA. "Unlike other checkpoint inhibitors which work on activated T-cells, KVA12123 focuses on VISTA, which is the only known checkpoint on quiescent T-cells preventing their activation and represents a promising new target in cancer immunotherapy. VISTA is highly overexpressed on tumors known not to respond to currently marketed checkpoint inhibitors most notably gynecologic cancers like ovarian cancer. They are also expressed on myeloid cells including tumor associated myeloid-derived suppressor cells ("MDSCs"), which, like VISTA, are also implicated in TME immunosuppression. Our novel bi-functional Antibody Drug Conjugates ("ADCs") are intended to target and block the delta receptor on MDSCs."
Under the terms of the Agreement, TuHURA will pay Kineta
About KVA12123
KVA12123 is a VISTA blocking immunotherapy in development as a twice weekly monoclonal antibody infusion drug completing two clinical trials both as a monotherapy and in combination with Merck's anti-PD1 therapy, KEYTRUDA® (pembrolizumab), in patients with advanced treatment refractory, solid tumors. Competitive therapies targeting VISTA have demonstrated either poor monotherapy anti-tumor activity in preclinical models or induction of cytokine release syndrome (CRS) in human clinical trials. Through the combination of unique epitope binding and an optimized IgG1 Fc region, KVA12123 demonstrates strong monotherapy tumor growth inhibition in preclinical models without evidence of CRS in clinical trial participants. KVA12123 has been shown to de-risk the VISTA target and provides a novel approach to address immune suppression in the TME with a mechanism of action that is differentiated and complementary with T cell focused therapies. KVA12123 may be an effective immunotherapy for many types of cancer and represents the introduction of a new class of checkpoint inhibitors.
VISTA (V-domain Ig suppressor of T-cell activation) is a negative immune checkpoint that suppresses T cell function in a variety of solid tumors. High VISTA expression in tumor correlates with poor survival in cancer patients and has been associated with a lack of response to other immune checkpoint inhibitors. Blocking VISTA induces an efficient polyfunctional immune response to address immunosuppression and drives anti-tumor responses.
"TuHURA Biosciences is well positioned to advance KVA12123," said Craig W. Philips, President of Kineta. "TuHURA has significant expertise and deep experience in the field. We believe they will make an excellent partner for this program and in advancing this novel drug program which could provide an important new treatment option for cancer patients."
As previously announced, TuHURA entered into a definitive agreement for an all-stock transaction with Kintara to form a company combining expertise and resources to advance a risk diversified late-stage oncology pipeline. The combined company will focus on advancing TuHURA's personalized cancer vaccine(s) and first-in-class bi-functional ADCs, two technologies that seek to overcome the major obstacles that limit the effectiveness of current immunotherapies in treating cancer. The combined company is expected to operate under the name "TuHURA Biosciences, Inc." and to trade on The Nasdaq Capital Market under the ticker "HURA". The transaction is subject to customary closing conditions, including stockholder approval of both companies, and is expected to close in the third quarter of 2024.
About Kineta, Inc.
Kineta (Nasdaq: KA) is a clinical-stage biotechnology company with a mission to develop next-generation immunotherapies that transform patients' lives. Kineta has leveraged its expertise in innate immunity and is focused on discovering and developing potentially differentiated immunotherapies that address the mechanisms of cancer immune resistance. For more information on Kineta, please visit www.kinetabio.com, and follow Kineta on X (Twitter) and LinkedIn.
About TuHURA Biosciences, Inc.
TuHURA Biosciences, Inc. is a Phase 3 registration-stage immuno-oncology company developing novel technologies to overcome resistance to cancer immunotherapy. TuHURA's lead personalized cancer vaccine candidate, IFx-2.0, is designed to overcome primary resistance to checkpoint inhibitors. TuHURA is preparing to initiate a single randomized placebo-controlled Phase 3 registration trial of IFx-2.0 administered as an adjunctive therapy to Keytruda® (pembrolizumab) in first line treatment for advanced or metastatic Merkel Cell Carcinoma.
In addition to its cancer vaccine product candidates, TuHURA is leveraging its Delta receptor technology to develop first-in-class bi-functional ADCs, targeting Myeloid Derived Suppressor Cells to inhibit their immune suppressing effects on the tumor microenvironment to prevent T cell exhaustion and acquired resistance to checkpoint inhibitors and cellular therapies.
For more information, please visit tuhurabio.com and connect with TuHURA on Facebook, X, and LinkedIn.
About Kintara
Located in
Kintara has a proprietary, late-stage photodynamic therapy platform that holds promise as a localized cutaneous, or visceral, tumor treatment as well as in other potential indications. REM-001 Therapy, which consists of the laser light source, the light delivery device, and the REM-001 drug product, has been previously studied in four Phase 2/3 clinical trials in patients with CMBC who had previously received chemotherapy and/or failed radiation therapy. In CMBC, REM-001 has a clinical efficacy to date of
For more information, please visit www.kintara.com or follow us on X at @Kintara_Thera, Facebook and LinkedIn.
No Offer or Solicitation
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This communication does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities or a solicitation of any vote or approval. This communication relates to the proposed merger of Kintara and TuHURA (the "proposed Merger"). In connection with the proposed Merger, Kintara has filed relevant materials with the
Participants in the Solicitation
Kintara, TuHURA and their respective directors and executive officers and other members of management and employees and certain of their respective significant stockholders may be deemed to be participants in the solicitation of proxies from Kintara and TuHURA stockholders in respect of the proposed Merger. Information about Kintara's directors and executive officers is available in Kintara's proxy statement, which was filed with the SEC on May 17, 2024 for the 2024 Annual Meeting of Stockholders, Kintara's Annual Report on Form 10-K for the fiscal year ended June 30, 2023, which was filed with the SEC on September 18, 2023. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the proxy solicitation and a description of their direct and indirect interests, by security holding or otherwise, has been and will be contained in the preliminary proxy statement/prospectus and other relevant materials to be filed with the SEC regarding the proposed Merger when they become available. Investors should read the definitive proxy statement/prospectus carefully when it becomes available before making any voting or investment decisions. You may obtain free copies of these documents from the SEC and Kintara as indicated above.
Forward-Looking Statements
This press release contains forward-looking statements based upon Kintara's and TuHURA's current expectations. This communication contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are identified by terminology such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "could," "should," "would," "project," "plan," "expect," "goal," "seek," "future," "likely" or the negative or plural of these words or similar expressions. Examples of such forward-looking statements include but are not limited to express or implied statements regarding Kintara's or TuHURA's management team's expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the anticipated benefits of the Agreement or a strategic transaction with Kineta, the proposed Merger and the expected effects, perceived benefits or opportunities and related timing with respect thereto, expectations regarding clinical trials and research and development programs, in particular with respect to TuHURA's IFx-Hu2.0 product candidate and its TME modulators development program, and any developments or results in connection therewith; the anticipated timing of the results from those studies and trials; expectations regarding the use of capital resources, including the net proceeds from the financing that closed in connection with the signing of the definitive agreement, and the time period over which the combined company's capital resources will be sufficient to fund its anticipated operations; and the expected trading of the combined company's stock on the Nasdaq Capital Market. These statements are only predictions. Kintara and TuHURA have based these forward-looking statements largely on their then-current expectations and projections about future events, as well as the beliefs and assumptions of management. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond each of Kintara's and TuHURA's control, and actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: (i) the risk that the conditions to the closing or consummation of the proposed Merger are not satisfied, including the failure to obtain stockholder approval for the proposed Merger; (ii) uncertainties as to the timing of the consummation of the proposed Merger and the ability of each of Kintara and TuHURA to consummate the transactions contemplated by the proposed Merger; (iii) risks related to Kintara's and TuHURA's ability to correctly estimate their respective operating expenses and expenses associated with the proposed Merger, as applicable, as well as uncertainties regarding the impact any delay in the closing would have on the anticipated cash resources of the resulting combined company upon closing and other events and unanticipated spending and costs that could reduce the combined company's cash resources; (iv) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the proposed Merger by either Kintara or TuHURA; (v) the effect of the announcement or pendency of the proposed Merger on Kintara's or TuHURA's business relationships, operating results and business generally; (vi) costs related to the proposed Merger; (vii) the outcome of any legal proceedings that may be instituted against Kintara, TuHURA, or any of their respective directors or officers related to the Merger Agreement or the transactions contemplated thereby; (vii) the ability of Kintara or TuHURA to protect their respective intellectual property rights; (viii) competitive responses to the proposed Merger; (ix) unexpected costs, charges or expenses resulting from the proposed Merger; (x) whether the combined business of TuHURA and Kintara will be successful; (xi) legislative, regulatory, political and economic developments; (xii) additional risks described in the "Risk Factors" section of Kintara's Annual Report on Form 10-K for the fiscal year ended June 30, 2023, and the Registration Statement on Form S-4 related to the proposed Merger filed with the SEC; and (xiii) the risk that Kineta and TuHURA do not enter into a definitive agreement for a strategic transaction. Additional assumptions, risks and uncertainties are described in detail in Kintara's registration statements, reports and other filings with the SEC, which are available on Kintara's website, and at www.sec.gov. Accordingly, you should not rely upon forward-looking statements as predictions of future events. Neither Kintara nor TuHURA can assure you that the events and circumstances reflected in the forward-looking statements will be achieved or occur, and actual results could differ materially from those projected in the forward-looking statements. The forward-looking statements made in this communication relate only to events as of the date on which the statements are made. Except as required by applicable law or regulation, Kintara and TuHURA undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which the statement is made or to reflect the occurrence of unanticipated events. Investors should not assume that any lack of update to a previously issued "forward-looking statement" constitutes a reaffirmation of that statement.
Investor Contacts:
TuHURA Biosciences, Inc.
Jenene Thomas
JTC Team, LLC
tuhura@jtcir.com
Kintara Therapeutics, Inc.
Robert E. Hoffman
Kintara Therapeutics
rhoffman@kintara.com
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SOURCE Kintara Therapeutics
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