Kiniksa out-licenses vixarelimab

Bermuda-based Kiniksa Pharmaceuticals (Nasdaq: KNSA) has announced a global license agreement with Swiss pharma giant Roche (ROG: SIX) and its US subsidiary Genentech, for the rights to develop and commercialize vixarelimab, a fully human monoclonal antibody targeting oncostatin M receptor beta (OSMRβ).

Kiniksa shares were halted at $9.97 a share in premarket trading, when Liniksa was alos report financials, but the shares closed the day u more than 7% at $10.68.

“We are proud to have advanced vixarelimab from a preclinical-stage asset through Phase II clinical studies. Our work underscores the differentiated potential of the OSMRβ mechanism as well as its potential to help patients with serious unmet need,” said Sanj Patel, chairman and chief executive of Kiniksa, adding: “The agreement provides an optimal infrastructure for the further development of vixarelimab. We plan to allocate the non-dilutive capital received from this transaction towards synergistic opportunities across our portfolio, including the expansion of our ARCALYST cardiovascular franchise.”