Basel, Switzerland, December 13, 2021. Kinarus AG, a Swiss clinical-stage biopharmaceutical company announced today that it has been awarded a grant in the amount of 7 million CHF from the Swiss Federal Funding Programme for COVID-19 Medicines. Kinarus is conducting two clinical studies of KIN001 in COVID-19; KINETIC, a randomized placebo-controlled trial of KIN001 in hospitalized COVID-19 patients, and KIN001-204, a randomized placebo-controlled trial in COVID-19 patients with mild-moderate symptoms.
The funds from the COVID-19 medicines program will enable Kinarus to rapidly advance both clinical trials. In preclinical tests, KIN001 has shown potent antiviral, antifibrotic and anti-inflammatory activity. Based on these data, Kinarus’ lead drug candidate has the potential to be an effective therapy for all severities of COVID-19 and variants of interest. The recent, rapid emergence of the omicron variant of SARS-CoV-2 illustrates the continuing need for new therapies for COVID-19.
“This grant award is an exceptional validation of our COVID-19 program at Kinarus. We believe that KIN001 has the potential to be an effective treatment option in the fight against COVID-19,” said Matthew Wright, Ph.D., Chief Operating Officer and Head of Research. “The speed with which we have advanced this program reflects the high promise of KIN001. The emergence of the delta variant and, more recently omicron, illustrate the ongoing need for broadly available oral treatment options. The Kinarus team is committed to rapidly develop therapies for patients with COVID-19.”