-Transaction adds immune oncology candidate to Kitov’s pipeline which includes promising NT-219 cancer drug resistance prevention therapeutic candidate
– Kitov to receive $3.5M investment from prominent life science funds Orbimed, Pontifax, and Arkin Holdings, each becoming a principal shareholder
– Kitov plans to initiate Phase I/II study with CM-24 in early 2020
Kitov Pharma(NASDAQ/TASE: KTOV), an innovative pharmaceutical company, today announced it has signed an agreement to acquire FameWave Ltd., a privately held biopharmaceutical company developing CM-24, a clinical stage monoclonal antibody targeting CEACAM1, a novel immune checkpoint. Kitov is planning initiation of a Phase I/II study in early 2020 to evaluate the safety and efficacy of CM-24 in combination with an anti PD-1 inhibitor. Kitov to host a conference call to discuss the transaction. The scheduling of the call will be announced separately.
“Combining this transaction with our proprietary NT219 program, Kitov will become a clinical stage oncology company backed by the support of leading global life science funds. With the NT219 and CM-24 oncology candidates, we are opening an exciting future for Kitov and I’m looking forward to building on this momentum. We are very pleased that the investment and support of three leading global life science funds will enable Kitov to advance our clinical programs and expand our institutional investor base,” stated Kitov CEO, Isaac Israel.
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