SEATTLE, Aug. 10, 2021 /PRNewswire/ — Kineta Inc, through its subsidiary Kineta Chronic Pain LLC, announced today that the company has received Patent No. 11,014,970 for Modifications and Uses of Conotoxin Peptides from the U.S. Patent and Trademark Office ("USPTO") related to KCP506, the company’s novel non-opioid therapy in development to treat chronic neuropathic pain. Among other claims, the patent covers the composition of matter of KCP506.
"The allowance of this patent in the U.S. substantially strengthens our intellectual property position, an important milestone for KCP506’s development and potential commercialization," said Kineta Eric Tarcha, PhD., EVP Research and Development at Kineta. "With a significant need for an effective therapy to treat chronic neuropathic pain, KCP506 has the potential to provide a non-opioid treatment option with a novel drug mechanism relative to conventional pain therapies."
A Notice of Allowance is issued after the USPTO makes a determination that a patent should be granted from an application. The patent will have a term that expires no earlier than 2035.
KCP506 may potentially be an effective treatment for many types of chronic neuropathic pain including radiculopathy, chemotherapy-induced peripheral neuropathy, and diabetic neuropathy. The global neuropathic pain market was $6.3 billion in 2019 and is expected to reach to $9.9 billion by 2027.
Kineta, Inc. is a clinical stage biotechnology company committed to developing disruptive life science technologies that address unmet patient needs. We have leveraged our expertise in immunology to advance a focused pipeline of investigational drugs in oncology and neuroscience. We actively collaborate with a broad array of private, government and industry partners to advance our innovative products. For more information on Kineta visit our website, www.kinetabio.com, follow us on Twitter at @kinetabio, LinkedIn and Like us on facebook.com/KinetaBio.
NOTICE: This document contains certain forward-looking statements, including without limitation statements regarding Kineta’s and Kineta Chronic Pain, LLC’s (KCP) plans for pre-clinical and clinical studies, regulatory filings, investor returns and anticipated drug effects in human subjects. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties inherent in Kineta’s and KCP’s businesses which could significantly affect expected results, including without limitation progress of drug development, ability to raise capital to fund 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 neither Kineta nor KCP undertake any obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
Contact Jacques Bouchy
SOURCE Kineta, Inc.