SAN FRANCISCO, Jan. 22, 2019 /PRNewswire/ -- Kindred Biosciences, Inc. (NASDAQ: KIN), a commercial-stage biopharmaceutical company focused on saving and improving the lives of pets, today announced that it has been named Best Company in North America by Animal Pharm, a leading industry publication.
In announcing the honor, Animal Pharm noted KindredBio's transition to a commercial-stage firm in 2018 with the approval of Mirataz® (mirtazapine transdermal ointment) for the management of weight loss in cats. Mirataz was brought to market for under $5 million and in less than five years, validating KindredBio's rapid and efficient drug development process, the publication said. Animal Pharm also referenced positive 2018 study results on KindredBio's IL-31 antibody for the treatment of canine atopic dermatitis and the Company's robust pipeline, which contains more than 20 drugs in development, in announcing the award.
"We are delighted to be recognized as the Best Company in North America by this pre-eminent industry publication. As one of the only pet biopharmaceutical companies in the world, we believe KindredBio is uniquely positioned to save and improve the lives of pets, and this award reinforces our industry leadership," said Denise Bevers, President and COO of KindredBio. "2018 was a banner year for KindredBio, marked by our transition to a commercial-stage firm within six years of the Company's founding. Since this time, we have built an efficient business model of repurposing human drugs for pets, world-class scientific team, deep pipeline and industry-leading biologics capabilities, all of which position KindredBio strongly for continued success."
Animal Pharm is the most widely read newsletter in the animal health sector. The publication's annual industry awards recognize achievements within the animal health industry. Subscribers nominate companies, products and employees across a range of award categories. A panel of judges comprised of industry experts then evaluate nominations and select winners. Learn more about the 2018 Animal Pharm awards here.
About Kindred Biosciences
Kindred Biosciences is a commercial-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The Company's strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats and horses. The Company has a deep pipeline of novel drugs and biologics in development across many therapeutic classes. KindredBio's first approved drug is Mirataz® (mirtazapine transdermal ointment) for the management of weight loss in cats.
Important Safety Information
Mirataz® (mirtazapine transdermal ointment) is for topical use in cats only under veterinary supervision. Do not use in cats with a known hypersensitivity to mirtazapine or any of the excipients or in cats treated with monoamine oxidase inhibitors (MAOIs). Not for human use. Keep out of reach of children. Wear gloves to apply and wash hands after. Avoid contact with treated cat for 2 hours following application. The most common adverse reactions include application site reactions, behavioral abnormalities (vocalization and hyperactivity) and vomiting. Please see the full Prescribing Information.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding our expectations about the trials, regulatory approval, manufacturing, distribution and commercialization of our current and future product candidates, and statements regarding our anticipated revenues, expenses, margins, profits and use of cash.
These forward-looking statements are based on our current expectations. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results to be materially different from any future results expressed or implied by the forward-looking statements. These risks include, but are not limited to, the following: our limited operating history and expectations of losses for the foreseeable future; the absence of significant revenue from our product candidates for the foreseeable future; our potential inability to obtain any necessary additional financing; our substantial dependence on the success of our lead product candidates, which may not be successfully commercialized even if they are approved for marketing; the effect of competition; our potential inability to obtain regulatory approval for our existing or future product candidates; our dependence on third parties to conduct some of our development activities; our dependence upon third-party manufacturers for supplies of our product candidates; uncertainties regarding the outcomes of trials regarding our product candidates; our potential failure to attract and retain senior management and key scientific personnel; uncertainty about our ability to develop a satisfactory sales organization; our significant costs of operating as a public company; our potential inability to obtain patent protection and other intellectual property protection for our product candidates; potential claims by third parties alleging our infringement of their patents and other intellectual property rights; our potential failure to comply with regulatory requirements, which are subject to change on an ongoing basis; the potential volatility of our stock price; and the significant control over our business by our principal stockholders and management.
For a further description of these risks and other risks that we face, please see the risk factors described in our filings with the U.S. Securities and Exchange Commission (the SEC), including the risk factors discussed under the caption "Risk Factors" in our Annual Report on Form 10-K and any subsequent updates that may be contained in our Quarterly Reports on Form 10-Q filed with the SEC. As a result of the risks described above and in our filings with the SEC, actual results may differ materially from those indicated by the forward-looking statements made in this press release. Forward-looking statements contained in this press release speak only as of the date of this press release and we undertake no obligation to update or revise these statements, except as may be required by law.
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SOURCE Kindred Biosciences, Inc.