Humedix buys 1.56 percent of Seattle’s Kineta

Logo of Humedix [HUMEDIX]

Humedix is acquiring 1.56 percent of Seattle’s Kineta for $2 million in a move to strengthen its contract manufacturing organization (CMO) business.

Established in 2007, Kineta specializes in developing novel immunotherapies to treat cancer, chronic neuropathic pain and emerging viruses.

Humedix will help accelerating the development and commercialization of medicines Kineta owns. The Kosdaq-listed company also gets exclusive rights to commercialize those drugs in Korea.

Huons Global own 40.64 percent of Humedix.

“Kineta’s technologies have been recognized globally as it had previously signed agreements with many global bio companies like Pfizer and Genentech,” said Humedix CEO Kim Jin-hwan. “Starting with this investment, Humedix will maintain a close partnership with Kineta in terms of our CMO business.”

BY SARAH CHEA [chea.sarah@joongang.co.kr]