Kinaset Therapeutics has raised US$103m in a Series B to move forward frevecitinib, an inhaled asthma therapy for people not controlled by standard inhalers.
The Boston-based firm is developing an inhaled treatment for serious respiratory diseases.
The company will use the proceeds to advance frevecitinib, an inhaled dry powder being developed for people whose asthma remains inadequately controlled by standard inhaled maintenance therapies.
Frevecitinib is an inhaled pan-JAK inhibitor, meaning it is designed to block a family of immune enzymes linked to inflammation.
It is intended to deliver therapeutic levels directly to the lungs via a single-capsule dry powder inhaler while limiting exposure to the rest of the body.
JAK inhibitors work by blocking Janus kinase enzymes, which play a role in immune signalling and inflammation.
Asthma affects millions worldwide, yet a significant proportion remain inadequately controlled on existing therapies. Current biologic treatments mainly help patients with certain types of inflammation, leaving many with severe asthma without effective options.
The company said this has created an unmet need for broadly effective, safe, inhaled anti-inflammatory therapies that can address the full spectrum of asthma disease.
The oversubscribed round was led by RA Capital Management and Forge Life Science Partners, with participation from new investors EQT Life Sciences, Vivo, Schroders, Willett Advisors, Pictet and Sixty Degree Capital, as well as existing investors Atlas Venture, 5AM Ventures and Gimv.
The investment was made as part of the LSP 7 Fund, managed by EQT Life Sciences.
Daniela Begolo, managing director at EQT Life Sciences, who will join the board of directors, said: “Kinaset is taking a highly differentiated approach to asthma by pairing validated JAK biology with an inhaled delivery designed to maximise lung exposure while minimising systemic risk.
“Backed by a strong and experienced management team, Kinaset has the potential to address a broad asthma population, including patients not well served by current therapies, making frevecitinib a particularly compelling programme to advance into later-stage development.”
Robert Clarke, chief executive, said: “Since day one, our goal has been to establish a best-in-class therapeutic for the treatment of severe inflammatory respiratory diseases.
“Critically, and unlike the majority of existing therapeutics, frevecitinib can provide benefit to all patients with severe asthma including those with a non-eosinophilic phenotype who continue to suffer from an absence of safe and effective therapies.
“This financing marks a significant milestone for Kinaset to execute our vision of advancing frevecitinib through a Phase 2 dose-ranging clinical study in severe asthma and potentially beyond.
“The participation of leading life science investors underscores both the strength of our team and the critical unmet need we aim to address.”
