Brief: Kinnate Biopharma Sells Its Investigational Pan-RAF Inhibitor to Pierre Fabre Laboratories

Kinnate Biopharma

01/03/2024 13:33

March 1 (Reuters) - Kinnate Biopharma Inc  KNTE.O :
    * KINNATE BIOPHARMA INC. SELLS ITS INVESTIGATIONAL PAN-RAF
INHIBITOR, EXARAFENIB, TO PIERRE FABRE LABORATORIES
    * KINNATE BIOPHARMA INC - TRANSACTION IS IN FURTHERANCE OF
KINNATE'S PREVIOUSLY ANNOUNCED PURSUIT OF STRATEGIC ALTERNATIVES
    * KINNATE BIOPHARMA - ENTERED ASSET PURCHASE AGREEMENT WITH
PIERRE
FABRE LABORATORIES FOR GLOBAL RIGHTS TO EXARAFENIB AND OTHER
PAN-RAF PROGRAM ASSETS
    * KINNATE BIOPHARMA INC -  PIERRE FABRE LABORATORIES WILL
ASSUME
100% OF ONGOING PROGRAM AND COSTS ASSOCIATED WITH ASSETS
    * KINNATE BIOPHARMA INC - WILL RECEIVE A TOTAL CONSIDERATION
OF UP
TO $31 MILLION
    * KINNATE BIOPHARMA INC - PIERRE FABRE LABORATORIES WILL
ASSUME UP
TO $5 MILLION OF TRADE PAYABLES FOR TRANSFERRED ASSETS
    * KINNATE BIOPHARMA INC - TRANSACTION IS NOT SUBJECT TO
CLOSING
CONDITIONS AND CLOSED UPON SIGNING.
    * KINNATE BIOPHARMA INC -  WILL RECEIVE $30.5 MILLION
PAYMENT 
CONTINGENT UPON EARLIER OF DOSING OF FIRST PATIENT IN FIRST
PIVOTAL TRIAL FOR EXARAFENIB

Source text for Eikon:  ID:nGNX2sW1j8 
Further company coverage:  KNTE.O 

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