Kinaset Therapeutics announced that it has raised $103 million in a Series B financing, with proceeds to be used for development of its KN-002 frevecitinib DPI for the treatment of asthma. The financing was led by RA Capital Management and Forge Life Science Partners with participation from other new and existing investors.
The company acquired development rights to the dry powder formulation of frevecitinib, a pan-JAK inhibitor, from Vectura in 2020. A Phase 1 trial of KN-002 was initiated in 2021 and was completed in 2024. In January 2025, Kinaset announced that the FDA had cleared an IND for a Phase 2b trial of KN-002.
Kinaset CEO Robert Clarke commented, “Since day one, our goal has been to develop a best-in-class therapeutic for the treatment of severe inflammatory respiratory disease. Critically, and unlike the majority of existing therapeutics, frevecitinib has the potential to benefit all patients with severe asthma, including those with a non-eosinophilic phenotype who continue to suffer from an absence of safe and effective therapies.”
Clarke continued, “This financing marks a significant milestone for Kinaset to execute our vision of advancing frevecitinib through a Phase 2 dose ranging clinical study in patients with severe asthma, and potentially beyond. The participation of leading life science investors underscores both the strength of our team and the critical unmet need we aim to address with frevecitinib.”
Read the Kinaset Therapeutics press release
