Kinnate Biopharma Closes $98M Series C Financing

Kinnate Biopharma Inc., a San Diego, Calif.-based biopharmaceutical company focused on the discovery and development of small molecule kinase inhibitors for difficult-to-treat, genomically-defined cancers, raised $98m in a Series C financing.

The round was led by RA Capital Management with participation from additional new investors: Viking Global Investors; Venrock Healthcare Capital Partners; Fidelity Management & Research Company, LLC; Janus Henderson Investors; Surveyor Capital (a Citadel company); Boxer Capital of Tavistock Group; Logos Capital; and an investment fund associated with SVB Leerink. Existing investors Foresite Capital, OrbiMed, Nextech Invest, and Vida Ventures also participated in the round. In December 2019, Kinnate closed a $74.5m Series B financing.

The company intends to use the funds to continue to advance its candidates.

Led by Nima Farzan, CEO, Kinnate leverages deep expertise in structure-based drug discovery, translational research, and patient-driven precision medicine to develop a wholly owned kinase inhibitor portfolio of new targeted therapy candidates that aim to help patients who are non-responders or express resistance to currently available precision medicines. The company’s lead preclinical programs include small molecule inhibitors targeting specific classes of BRAF kinase mutations (Class II and Class III mutations) and FGFR2 or FGFR3 alterations that aim to overcome resistance commonly limiting the efficacy of existing therapies. The company is also advancing a number of other research programs. To advance these programs, Kinnate is working with leaders at experienced precision medicine cancer centers including Massachusetts General Hospital Cancer Center and the UC San Diego Moores Cancer Center.