SEATTLE, May 5, 2020 /PRNewswire/ -- Kineta, Inc., a clinical stage biotechnology company focused on the development of novel immunotherapies in oncology, neuroscience and biodefense, announced today that they have successfully closed their most recent funding round totaling $5 million. This round was led by the Bellevue-based Schlaepfer Family Foundation.
"Our team is thrilled to quickly close this round with significant investments from the Schlaepfer Family Foundation as well as current investors," said Shawn Iadonato, Chief Executive Officer of Kineta. "This funding will allow us accelerate the development of our novel immuno-oncology programs and enable our mission to develop innovative immunotherapies that transform patients' lives."
"We appreciate Kineta's commitment to developing breakthrough therapies for cancer patients, which personally touches so many of our lives," said Phil Scott Schlaepfer, co-founder of the Schlaepfer Family Foundation. "Our foundation is proud to invest in this local biotech company and their experienced team of scientists. We recognized Kineta's excellence in both scientific and business execution several years ago when we made our initial investment. The team at Kineta continues to be a global leader in advancing life-saving research."
Proceeds from this investment round will be used to fund the early development of Kineta's immuno-oncology drug programs. Kineta is focused on developing new, best-in-class immunotherapies to address hard-to-treat cancers in a variety of solid tumors.
Kineta, Inc. is a clinical stage biotechnology company committed to developing disruptive life science technologies that address unmet patient needs. We have leveraged our expertise in immunology and innate immunity to advance a focused pipeline of investigational drugs in oncology, neuroscience and biodefense. We actively collaborate with a broad array of private, government and industry partners to advance our innovative products. For more information on Kineta visit our website, www.kinetabio.com, follow us on Twitter at @kinetabio, LinkedIn and Like us on facebook.com/KinetaBio.
NOTICE: This document contains certain forward-looking statements, including without limitation statements regarding Kineta's and its affiliates' plans for pre-clinical and clinical studies, regulatory filings, investor returns and anticipated drug effects in human subjects. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties inherent in Kineta's and its subsidiaries' businesses which could significantly affect expected results, including without limitation progress of drug development, ability to raise capital to fund drug development, clinical testing and regulatory approval, developments in raw material and personnel costs, and legislative, fiscal, and other regulatory measures. All forward-looking statements are qualified in their entirety by this cautionary statement, and neither Kineta nor its affiliates undertake any obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
Contact Jacques Bouchy
SOURCE Kineta, Inc.