Istisociclib

CAMBRIDGE, England--(BUSINESS WIRE)--Ignota Labs, the AI drug turnaround company, has announced its acquisition of Kronos’s clinical assets, istisociclib, a CDK9 inhibitor, and entospletinib and lanraplenib, SYK inhibitors. Kronos’ valuation peaked at $3.5 billion after its IPO; however, it failed to progress its assets past Phase 2 trials and subsequently ceased operations. Given the challenges relating to safety and clinical positioning, Ignota Labs saw promise in the clinical portfolio and has acquired Kronos’s clinical IP in full. Ignota Labs combines cheminformatics and bioinformatics in its AI platform, SAFEPATH, to identify the root causes of safety issues and improve safety while maintaining therapeutic effectiveness. Ignota’s proprietary process will now assess the Kronos assets to identify the issue, solve the causes of toxicity, and develop the drug clinically and commercially to get it to patients. Sam Windsor, Co-Founder and CEO at Ignota Labs, said: “We are acquiring assets that have demonstrated therapeutic effect, but failed in their development and were shelved despite tens of millions of dollars already invested in them. This is where Ignota Labs come in: unlocking value by turning around failing drugs so that they can quickly get back into clinical trials and bring fresh hope to the patients waiting for these drugs.” Blood cancers and autoimmune disorders remain large, underserved markets. Chronic lymphocytic leukaemia (CLL) is an $8 billion market globally, and immune thrombocytopenia purpura (ITP) represents a $1.5 billion opportunity. By reviving these clinical assets, Ignota Labs is uniquely positioned to address these substantial patient and market needs. Dr. Jordan Lane, Co-Founder and Chief Scientific Officer, said: “These drugs are desperately needed. Both CKD9 inhibitors and SYK inhibitors have shown clinical benefit to patients. By in-licensing these drugs, we are uniquely placed to bring these best-in-class drugs to patients with diseases that desperately need them.” About Ignota Labs Ignota Labs turns around promising but failing drugs, bringing new life to abandoned projects and new hope to patients. In preclinical and clinical studies, safety assessments typically reveal what went wrong—such as liver damage or heart issues—but fail to explain why these issues occurred, or how they might be mitigated. SAFEPATH is a first-of-its-kind AI platform that combines advanced machine learning models with a multimodal data approach to enable a deep understanding of toxicity mechanisms, and offers actionable insights to facilitate drug turnaround. The clinical stage company was founded by Cambridge researchers and pharmaceutical consultants, and investors include AIX Ventures, Montage Ventures, and Modi Ventures. For more information, visit www.ignotalabs.ai.

CAMBRIDGE, MA, USA I May 01, 2025 I Kronos Bio, Inc. (“Kronos Bio”) (Nasdaq: KRON), a biotechnology company that has been developing small molecule therapeutics to address cancers and other diseases driven by deregulated transcription, today announced that it has entered into a definitive merger agreement (the “Merger Agreement”) with Concentra Biosciences, LLC ( “Concentra”), whereby Concentra will acquire Kronos Bio for $0.57 in cash per share of Kronos Bio common stock (“Kronos Bio Common Stock”), plus one non-tradeable contingent value right (“CVR”), which represents the right to receive: (i) 50% of the net proceeds in the case of a disposition of the Company’s product candidates known as KB-9558 and KB-7898 that occurs within 2 years following closing; (ii) 100% of the net proceeds in the case of a disposition of the Company’s product candidates known as KB-0742, lanraplenib and entospletinib that occurs prior to closing; (iii) 100% of cost savings realized prior to closing; (iv) 80% of cost savings realized between the merger closing date and the second (2 nd ) anniversary of the merger closing date; and (v) 50% of cost savings realized between the second (2 nd ) anniversary of the merger closing date and the third (3 rd ) anniversary of the merger closing date, each pursuant to the contingent value rights agreement (the “CVR Agreement”). Following a review process conducted with the assistance of its legal and financial advisors, the Kronos Bio Board of Directors has determined that the acquisition by Concentra is in the best interests of all Kronos Bio shareholders and has approved the Merger Agreement and related transactions. Pursuant and subject to the terms of the Merger Agreement, a wholly owned subsidiary of Concentra will commence a tender offer (the “Offer”) by May 15, 2025 to acquire all outstanding shares of Kronos Bio Common Stock. Closing of the Offer is subject to certain conditions, including the tender of Kronos Bio Common Stock representing at least a majority of the total number of outstanding shares (including any shares held by Concentra), the availability of at least $40.0 million of cash (net of transaction costs and other liabilities) at closing, and other customary closing conditions. Kronos Bio officers, directors and their respective affiliates holding approximately 27% of Kronos Bio Common Stock have signed tender and support agreements under which such parties have agreed to tender their shares in the Offer and support the merger transaction. The merger transaction is expected to close mid-2025. About Kronos Bio Kronos Bio is a biopharmaceutical company that has historically focused on the discovery and development of small molecule therapeutics to address deregulated transcription, a hallmark of cancer and autoimmune diseases. Kronos Bio has a research facility in Cambridge, Mass. For more information, visit https://www.kronosbio.com . Advisors Goodwin Procter LLP is acting as legal counsel to Kronos Bio and Leerink Partners is acting as sole financial advisor to Kronos Bio. Gibson, Dunn & Crutcher LLP is acting as legal counsel to Concentra. SOURCE: Kronos Bio