SEATTLE–(BUSINESS WIRE)–Kineta, Inc., a biotechnology company focused on the development of immune-modulating drugs for critical diseases, and RLB Holdings, an investment fund founded by Ray and Lydia Bartoszek, have formed a joint venture, Kineta RLB, LLC, which will commercialize promising, high-value compounds in selective disease areas with unmet medical needs.
“The vision of Kineta RLB is to progress the clinical development in high-need areas with the hope of improving the access to important new medical treatments in areas where patients do not have appropriate treatment options”
“The vision of Kineta RLB is to progress the clinical development in high-need areas with the hope of improving the access to important new medical treatments in areas where patients do not have appropriate treatment options,” said Lydia Bartoszek, Managing Partner and Co-Founder of RLB Holdings. RLB Holdings is an investment firm that seeks to uncover valuable opportunities that provide community benefit and are poised for growth. These investments currently include a diverse array of companies including equity positions in Kineta, Simple Wishes, and the New York Yankees.
“This collaboration combines the resources of RLB Holdings with Kineta’s translational and clinical development expertise to develop novel drug candidates that address pressing medical needs,” said Charles Magness, President and CEO of Kineta.
Craig W. Philips, who serves as President of Kineta RLB, adds, “This approach will allow us to broaden the lifecycle management of some of the key assets in the Kineta portfolio and increase the value of our development programs to the benefit of both patients and investors. Our initial focus will be autoimmune diseases, an area where there have been only incremental advances despite the enormous need of tens of thousands of children and adults in the US and abroad.”
About RLB Holdings
RLB Holdings is an investment firm founded in 2011 by Ray and Lydia Bartoszek who co-lead the firm as managing partners. RLB has pursued a diversified strategy of investing in transformative products and services across leading sectors. RLB Holdings seeks to uncover valuable opportunities poised for substantial growth and also provide positive economic and community benefit. Select investments include: The New York Yankees, Solutionpoint International, Horseheads Sand & Transloading Terminal, Crunch Gyms, Simple Wishes and Kineta. More information is available atwww.RLB-Holdings.com.
Kineta, Inc. is a Seattle-based privately held biotechnology company specializing in clinical advancement of novel drug candidates derived from leading-edge scientific research. Our world-class scientists are pioneers in developing life-changing classes of new drugs designed to be more effective and safer than current medicines. Kineta seeks to improve the lives of millions of people suffering from autoimmune and viral diseases and from severe pain. Our progressive business model focuses on targeting unmet medical needs and rapid achievement of important clinical milestones. For more information on Kineta, Inc. visit our website, www.Kinetabio.com.
NOTICE: This press release contains certain forward-looking statements, including without limitation statements regarding Kineta’s plans for pre-clinical and clinical studies, anticipated drug effects in human subjects, regulatory submissions and financial performance. You are cautioned that such forward-looking statements are not guarantees of future performance and involve risks and uncertainties inherent in Kineta’s business which could significantly affect expected results, including without limitation: progress of drug development; intellectual property protection and enforcement; efficacy, and demand for our products; clinical testing and regulatory approval; changes in legislative, fiscal, and other regulatory measures; and our ability to recruit and retain scientists and other key personnel. All forward-looking statements are qualified in their entirety by this cautionary statement, and Kineta undertakes no obligation to revise or update any forward-looking statement to reflect events or circumstances after the issuance of this press release.
Dan Eramian, 206-378-0400