Kineta completes reverse merger with Yumanity Therapeutics

Kineta (KA) announced the completion of its reverse merger with Yumanity Therapeutics (YMTX). The combined company will operate under the name Kineta, and its shares will commence trading on The Nasdaq Capital Market under the ticker symbol "KA" on December 19, 2022. Immediately prior to the merger, Yumanity effected a reverse stock split of its common stock at a ratio of one share for every seven shares. Kineta plans to execute on its clinical development program to unlock the potential of KVA12123. KVA12123 is expected to be a differentiated VISTA blocking immunotherapy to address the problem of immunosuppression in the tumor microenvironment. A Phase 1 / Phase 2 clinical trial evaluating KVA12123 alone and in combination with pembrolizumab in patients with advanced solid tumors will begin enrolling patients in January 2023. Additionally, the company is advancing an anti-CD27 agonist immunotherapy to address the problem of exhausted T cells and is planning to submit an Investigational New Drug application in the first half of 2024.