TuHURA Biosciences to Acquire Kineta Through Merger Agreement

TuHURA Biosciences, Inc., a company at the forefront of immune-oncology, and Kineta, Inc., a biotechnology firm specializing in novel cancer immunotherapies, have announced a merger agreement. This strategic move will see TuHURA acquiring Kineta, including rights to its innovative antibody KVA12123. This acquisition is set to enhance TuHURA’s late-stage development pipeline, specifically targeting resistance to cancer immunotherapy.

The merger, anticipated to close by the first quarter of 2025, will involve a combination of cash and TuHURA common stock as compensation for Kineta’s shareholders. This agreement follows an earlier collaboration between the two companies, which included a $5 million exclusivity fee paid by TuHURA to enable Kineta to advance their Phase 1 clinical trials. These trials aim to evaluate the efficacy of KVA12123 as both a standalone therapy and in combination with Merck’s pembrolizumab, especially in combatting solid tumors.

KVA12123 is designed as a VISTA-blocking immunotherapy administered bi-weekly. The therapy is currently undergoing trials to gauge its monotherapy capabilities and its efficacy when paired with pembrolizumab in patients with advanced solid tumors. Unlike other VISTA-targeting therapies that have either shown limited effectiveness or caused cytokine release syndrome in trials, KVA12123 has demonstrated promising results. Its unique binding characteristics and IgG1 Fc region optimization have led to significant monotherapy tumor growth suppression in preclinical studies, without the side effects typically seen in other trials.

VISTA functions as a negative immune checkpoint, curtailing T cell activity in various solid tumors. High levels of VISTA expression in tumors are linked to reduced patient survival and resistance to other immune checkpoint inhibitors. By blocking VISTA, KVA12123 aims to provoke a polyfunctional immune response that could counteract immunosuppression and stimulate anti-tumor activity. Initial data presented at key oncology conferences in 2024 highlighted its potential as a best-in-class treatment for VISTA-related challenges, especially in acute myeloid leukemia (AML) cases associated with mNPM1 mutations. These mutations can cause immune evasion and complicate treatment outcomes.

The transaction not only expands TuHURA’s pipeline but also aligns KVA12123 with TuHURA’s other technologies, such as IFx and Delta receptor-based therapies. These platforms focus on overcoming both primary and acquired resistance to cancer treatments, areas where KVA12123 shows significant promise. According to James Bianco, CEO of TuHURA, integrating Kineta’s developments into TuHURA’s portfolio will leverage cross-product synergies and potentially enhance treatment efficacy for blood-related cancers.

Upon completion of the merger, Kineta shareholders will receive shares of TuHURA stock and cash, contingent on certain financial conditions and shareholder approvals. TuHURA has also committed to continue funding trials for KVA12123, ensuring its development progresses without financial hindrance.

Craig W. Philips, President of Kineta, expressed optimism about the merger, emphasizing that it maximizes shareholder value and secures a robust development trajectory for KVA12123. Kineta is also exploring additional partnerships for its other technologies, indicating a broader strategy to leverage its immunotherapy expertise.

This merger is poised to enhance TuHURA's capabilities in addressing cancer immunotherapy resistance, potentially paving the way for more effective cancer treatments. The focus will initially be on developing KVA12123 for use in AML with mNPM1 mutations, aiming for a Phase 2a/b trial by 2025. The collaboration underscores the shared commitment of both companies to innovate and improve therapeutic options for cancer patients.