Kineta has secured an undisclosed investment from angelMD, a healthcare-focused private equity firm led by physicians. Based in Seattle, Kineta is a biotech company.
San Francisco, California (PRWEB) March 13, 2014
angelMD, a healthcare focused private equity firm announced its physician-led investor network has made its first investment. The company selected for investment is Seattle based Kineta, Inc. The company has a five compound pipeline, with its lead drug program ShK-186 already in a Phase 1B clinical trial for psoriatic arthritis. Kineta is also the major subcontractor of a University of Washington project which was awarded an NIH grant of up to $11.6M to develop novel vaccine adjuvants, agents that help boost the body’s immune response.
“Kineta has a solid management team, great science, and an innovative funding strategy that creates opportunity for our physician investors. They are a great match for the angelMD physician community and we’re excited about watching and participating in their success,” said Charles Weaver, MD, angelMD SVP of Clinical and Business Development.
Charles Magness, PhD, Kineta Founder and CEO added, “angelMD delivers the same creative approach to healthcare funding that Kineta brings to biotechnology development. Their model is perfectly aligned with the interests of innovative companies, and we are excited to have a network of clinicians partnering with us financially.”
Based in San Francisco, California and Seattle, Washington, angelMD is a private equity firm leveraging a powerful crowd-funding platform that connects physician investors with innovative medical startups seeking capital investments, advisors, and users.
Leading physicians from all over the US have joined the angelMD Clinical Advisory Board and Leaders Club to help source and evaluate opportunities in biotechnology, medical device and healthcare technology. For more information visit http://www.angelmd.co.
Kineta, Inc. is a Seattle-based privately held biotechnology company specializing in clinical advancement of novel drug candidates derived from leading edge scientific research. Our world-class scientists are pioneers in developing life-changing classes of new drugs designed to be more effective and safer than current medicines. Kineta seeks to improve the lives of millions of people suffering from autoimmune and viral diseases and from severe pain. Our progressive business model focuses on targeting unmet medical needs and rapid achievement of important clinical milestones. For more information on Kineta Inc. and its pipeline visit our http://www.Kinetabio.com.