Download Global Oil Traders Fuel Kineta`s Drug Pipeline

PRESS RELEASE
Global Oil Traders Fuel Kineta’s Drug Pipeline
Hydra, LLC Investment Group Announces Move into Biotech
SEATTLE, WA, MAY 21, 2013 – Kineta, Inc. a biotechnology company focused on the development
of novel immune modulating drugs for critical disease areas, and Hydra, LLC today announced the
completion of a major investment to add funding to Kineta’s clinical stage drug programs. The
investment is directed at Kineta’s two lead drug programs - ShK-186, a novel immune-sparing
targeted therapeutic focused on autoimmune diseases and rOAS, a novel pan-viral therapeutic
aimed at an array of high priority contagious pathogens for which there are few effective therapies.
“We are genuinely impressed with Kineta’s leadership and laser-focus on delivering high caliber
R&D to larger global pharmaceutical companies. This is a nimble organization with a track record
of development success. Kineta has created a unique, cost efficient and rational way to move early
stage drug programs into human subjects with a focus on rapidly delivering liquidity. All of these
factors went into our investment decision,” explained Jamie Browne, a managing director of Hydra,
LLC.
Mr. Browne co-leads Hydra, LLC along with Ken Backes. Hydra is comprised of 13 recently retired
Glencore Ltd. (GLEN.L: London) traders. Each Hydra member has committed considerable capital to
the new private equity partnership. Hydra is focused on diversified opportunities including
choosing to provide Kineta, Inc. significant funding to make major clinical advancements in two
drug development programs.
“Kineta is very pleased to welcome Hydra as a major investor into our clinical stage programs. This
is a team of highly astute investors with broad appreciation for underlying market forces across
economic sectors. Their investment is a tremendous vote of confidence for the Kineta model and
will enable us to advance our clinical work for two very promising drug candidates,” said Kineta,
Inc., President and CEO, Charles Magness, Ph.D.
Kineta’s lead program, Shk-186 recently completed phase one studies successfully positioning it for
multiple development pathways for autoimmune diseases. Kineta’s second program, rOAS is
scheduled to enter first-in-human clinical trials later this year. Kineta’s pipeline also contains three
additional drug and vaccine adjuvant programs, all have novel mechanisms of action and are aimed
at large, global unmet medical needs. Kineta has raised more than $46M since 2008 through grants
and private investment. Kineta’s chief business goal is to partner or license clinically validated
assets that have achieved pre-specified development milestones to pharmaceutical companies for
further clinical development.
For more information on today’s announcement contact Dan Eramian, Senior Vice President of
Corporate Communications, 206-378-0400 or 425-306-8716; [email protected]
#####
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 development team is comprised of pioneers 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. visit our website,
www.Kinetabio.com
Hydra, LLC is a limited partnership formed in 2012 by a 13 recently retired oil traders who gained
global prominence with Glencore Ltd. (GLEN.L: London). The group seeks investments in
companies with clear and focused growth strategies, sustainable and differentiated market
advantages and entities managed by high caliber proven leadership teams. Hydra is building a
portfolio of investments representing diverse sectors and spanning both public and private
markets.
NOTICE: This document contains certain forward-looking statements, including without limitation statements regarding Kineta’s plans for clinical
studies. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties
inherent in Kineta’s business which could significantly affect expected results, including without limitation progress of 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 Kineta undertakes no obligation to revise or update any
forward-looking statement to reflect events or circumstances after the issuance of this press release. Glencore Ltd. and its affiliated entities have
not invested in, nor are they affiliated with either Kineta, Inc. or with Hydra, LLC.