Monday, June 7, 2010

Kineta Gets Investment From Iacocca Family

Seattle-based Kineta, a firm developing biopharmaceutiacls to treat Type 1 diabetes, reported today that it has inked a new investment partnership with The Iacocca Family Foundation, to speed development of its compounds. Financial terms of the partnership were not disclosed. Kineta said the funding will go towards speeding development of its preclinical autoimmune drug candidate, ShK-186, which is targeted at treating Type 1 diabetes mellitus. Kineta also is developing other drugs focused on autoimmune diseases.