BRIEF-Kinnate Biopharma Sells Its Investigational Pan-RAF Inhibitor to Pierre Fabre Laboratories

Reuters03-01

March 1 (Reuters) - Kinnate Biopharma Inc :

* KINNATE BIOPHARMA INC. SELLS ITS INVESTIGATIONAL PAN-RAF INHIBITOR, EXARAFENIB, TO PIERRE FABRE LABORATORIES

* KINNATE BIOPHARMA INC - TRANSACTION IS IN FURTHERANCE OF KINNATE'S PREVIOUSLY ANNOUNCED PURSUIT OF STRATEGIC ALTERNATIVES

* KINNATE BIOPHARMA - ENTERED ASSET PURCHASE AGREEMENT WITH PIERRE FABRE LABORATORIES FOR GLOBAL RIGHTS TO EXARAFENIB AND OTHER PAN-RAF PROGRAM ASSETS

* KINNATE BIOPHARMA INC - PIERRE FABRE LABORATORIES WILL ASSUME 100% OF ONGOING PROGRAM AND COSTS ASSOCIATED WITH ASSETS

* KINNATE BIOPHARMA INC - WILL RECEIVE A TOTAL CONSIDERATION OF UP TO $31 MILLION

* KINNATE BIOPHARMA INC - PIERRE FABRE LABORATORIES WILL ASSUME UP TO $5 MILLION OF TRADE PAYABLES FOR TRANSFERRED ASSETS

* KINNATE BIOPHARMA INC - TRANSACTION IS NOT SUBJECT TO CLOSING CONDITIONS AND CLOSED UPON SIGNING.

* KINNATE BIOPHARMA INC - WILL RECEIVE $30.5 MILLION PAYMENT CONTINGENT UPON EARLIER OF DOSING OF FIRST PATIENT IN FIRST PIVOTAL TRIAL FOR EXARAFENIB

Source text for Eikon: Further company coverage:

((Reuters.Briefs@thomsonreuters.com;))

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