Seattle biotech company Kineta completes merger, begins trading on Nasdaq

Seattle biotech company Kineta completed its merger with Yumanity Therapeutics, a move that makes Kineta a public company. The combined company began trading Monday on the Nasdaq under the symbol KA and retains the Kineta name and leadership structure. Along with the merger, Kineta completed $7.5 million in PIPE (private investment in public equity) financing and expects an additional $22.5 million to close at the end of March, which will help extend the company’s runway for 24 months. Next month Kineta will initiate enrollment in an early-stage clinical trial testing a candidate immunotherapy alone or in combination with Merck’s Keytruda.