Kintara Therapeutics To Merge Into TuHURA Biosciences
(RTTNews) - Biopharmaceutical company Kintara Therapeutics, Inc. (KTRA) and immune-oncology company TuHURA Biosciences, Inc. announced Wednesday that they have entered into a definitive agreement for an all-stock transaction forming a company with expertise and resources to advance a risk diversified late-stage oncology pipeline.
The combined company will focus on advancing TuHURA's personalized cancer vaccine(s) and first-in-class bi-functional ADCS, two technologies that seek to overcome the major obstacles that limit the effectiveness of current immunotherapies in treating cancer.
The combined company is expected to operate under the name "TuHURA Biosciences, Inc." and to trade on The Nasdaq Capital Market under the ticker "HURA". The transaction is expected to close in the third quarter of 2024.
TuHURA is planning to advance a single Phase 3 trial for IFx-2.0 personalized cancer vaccine as adjunctive therapy with Keytruda in first-line therapy for advanced Merkel cell carcinoma in the second half of 2024 under FDA's accelerated approval pathway.
The $31 million subscribed financing by TuHURA in connection with the merger agreement expected to provide cash runway into late 2025.
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