First transaction on KIN001
Kinarus have announced the signing of an agreement with ChaoDain (Hangzhou) Investment Management (CDIM) for a CHF 1.5m convertible loan that will form the basis for the development of KIN001 in the treatment of idiopathic pulmonary fibrosis (IPF) in China.This is an important validation of the potential of KIN001 in IPF and could be the first of a sequence of transactions that result in development collaborations on KIN001, and not just in IPF.
We regard the investment by ChaoDain Investment Management, and the raising of the profile of KIN001 in IPF, as a significant positive step in validating KIN001 in its proposed inflammatory indications as well as providing a welcome cash inflow.
Our fair valuation of Kinarus remains at CHF96.0m, or CHF0.09 per share, pending release of Kinarus’ full-year 2022 results at the end of this month.
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