SAN FRANCISCO, Oct. 7, 2020 /PRNewswire/ -- Kindred Biosciences,
Inc. (NASDAQ: KIN), a biopharmaceutical company developing novel
biologics, today announced it has expanded an agreement with
Vaxart, Inc. (Nasdaq: VXRT) for the manufacture of Vaxart's oral
vaccine for COVID-19 and other vaccine candidates. The
manufacturing services will be performed via Centaur
Biopharmaceutical Services (Centaur), a wholly owned subsidiary of
KindredBio that provides full service contract development and
manufacturing services.
"We are pleased to expand our partnership with Vaxart as they
prepare to advance their novel COVID-19 vaccine candidate into the
clinic," said KindredBio's Chief Executive Officer, Richard Chin, M.D. "This agreement further
establishes us as a partner of choice for contract manufacturing,
while supporting the development of our attractive pipeline of late
stage assets."
Under the terms of the expanded agreement, the California plant will be responsible for
scaling the COVID-19 clinical trial material into mid-size
bioreactors and the Kansas plant
will be responsible for manufacturing at 2000L scale in its single
use bioreactors.
"We are very pleased to have secured commercial scale bulk
manufacturing with KindredBio, which has state-of-the-art
capabilities in viral vector manufacturing. This is an essential
next step in advancing our oral tablet vaccine candidate for
COVID-19, which we believe could accelerate mass vaccination
campaigns globally," said Vaxart's Chief Executive Officer,
Andrei Floroiu.
About Kindred Biosciences
Kindred Biosciences is a biopharmaceutical company developing
innovative biologics. The company has a deep pipeline of novel
biologics in development across many therapeutic classes, alongside
state-of-the-art biologics manufacturing capabilities and a broad
intellectual property portfolio. For more information, please
visit: www.kindredbio.com
About Vaxart
Vaxart is a clinical-stage biotechnology company developing a
range of oral recombinant vaccines based on its proprietary
delivery platform. Its development programs currently include
tablet vaccines designed to protect against coronavirus, norovirus,
seasonal influenza and respiratory syncytial virus (RSV), as well
as a therapeutic vaccine for human papillomavirus (HPV), Vaxart's
first immuno-oncology indication. For more information, please
visit www.vaxart.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the U.S. Private Securities Litigation Reform Act of
1995. All statements contained in this press release that do not
relate to matters of historical fact should be considered
forward-looking statements, including, but not limited to,
statements regarding our expectations about the trials, regulatory
approval, manufacturing, distribution and commercialization of our
current and future product candidates, and statements regarding our
anticipated revenues, expenses, margins, profits and use of
cash.
These forward-looking statements are based on our current
expectations. These statements are not promises or guarantees, but
involve known and unknown risks, uncertainties and other important
factors that may cause our actual results to be materially
different from any future results expressed or implied by the
forward-looking statements. These risks include, but are not
limited to, the following: our limited operating history and
expectations of losses for the foreseeable future; the absence of
significant revenue from our products and our product candidates
for the foreseeable future; the likelihood that our revenue will
vary from quarter to quarter; our potential inability to obtain any
necessary additional financing; our substantial dependence on the
success of our products and our lead product candidates which may
not be successfully commercialized even if they are approved for
marketing; the effect of competition; our potential inability to
obtain regulatory approval for our existing or future product
candidates; our dependence on third parties to conduct some of our
development activities; our dependence upon third-party
manufacturers for supplies of our products and our product
candidates and the potential inability of these manufacturers to
deliver a sufficient amount of supplies on a timely basis;
the uncertain effect of the COVID-19 pandemic on our business,
results of operations and financial condition; uncertainties
regarding the outcomes of trials regarding our product candidates;
our potential failure to attract and retain senior management and
key scientific personnel; uncertainty about our ability to enter
into satisfactory agreements with third-party licensees of our
biologic products or to develop a satisfactory sales organization
for our equine small molecule products; our significant costs of
operating as a public company; potential cyber-attacks on our
information technology systems or on our third-party providers'
information technology systems, which could disrupt our operations;
our potential inability to repay the secured indebtedness that we
have incurred from third-party lenders, and the restrictions on our
business activities that are contained in our loan agreement with
these lenders; the risk that our 2020 strategic realignment and
restructuring plans will result in unanticipated costs or revenue
shortfalls; uncertainty about the amount of royalties that we will
receive from the sale of Mirataz® to Dechra Pharmaceuticals PLC;
our potential inability to obtain and maintain patent protection
and other intellectual property protection for our products and our
product candidates; potential claims by third parties alleging our
infringement of their patents and other intellectual property
rights; our potential failure to comply with regulatory
requirements, which are subject to change on an ongoing basis; the
potential volatility of our stock price; and the significant
control over our business by our principal stockholders and
management.
For a further description of these risks and other risks that we
face, please see the risk factors described in our filings with the
U.S. Securities and Exchange Commission (the SEC), including the
risk factors discussed under the caption "Risk Factors" in our
Annual Report on Form 10-K and any subsequent updates that may be
contained in our Quarterly Reports on Form 10-Q filed with the SEC.
As a result of the risks described above and in our filings with
the SEC, actual results may differ materially from those indicated
by the forward-looking statements made in this press release.
Forward-looking statements contained in this press release speak
only as of the date of this press release and we undertake no
obligation to update or revise these statements, except as may be
required by law.
The results stated in this press release have not been reviewed
by the Food and Drug Administration or the United States Department
of Agriculture Center for Veterinary Biologics, as applicable.
Contacts
For investor inquiries:
Katja Buhrer
Katja.buhrer@kindredbio.com
(917) 969-3438
For CDMO services:
Russell Harris
russell.harris@centaurbps.com
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SOURCE Kindred Biosciences, Inc.