Kinnate Biopharma, a clinical-stage precision oncology company, has recently finalized a deal with Pierre Fabre Medicament, a global oncology company. The sale includes the company’s investigational pan-RAF inhibitor, exarafenib, and other pan-RAF program assets.
Strategic Move for Kinnate Biopharma
The sale of global rights to Pierre Fabre Laboratories marks a strategic shift for Kinnate Biopharma, aligning with their exploration of strategic alternatives. This move signifies a significant milestone in the company’s journey.
Terms of the Agreement
As per the agreement, Pierre Fabre Laboratories will acquire exarafenib and other pan-RAF assets, taking over 100% of the ongoing program and associated costs. In return, Kinnate will receive a total consideration of up to $31 million. This includes a $500,000 payment upon closing and a $30.5 million payment, contingent upon specific milestones being reached.
Seamless Transition
Unlike many acquisitions, this transaction has swiftly closed without any additional conditions. The immediate completion ensures a seamless transition of assets from Kinnate to Pierre Fabre Laboratories.
This strategic maneuver showcases the dynamic landscape of precision oncology and sets the stage for future collaborations within the industry.