Kancera and Recardio have agreed to evaluate combining both companies’ assets and resources through a transaction in which Recardio would in-license KAND567 and KAND145. As a result of the licensing transaction, Recardio’s pipeline would include two competitive late-stage clinical programs for disease-modifying intervention in post myocardial infarction.

Peter Selin, CEO, Kancera. Photo: Martin Botvidsson, www.botvidsson.se

“There is a very strong business rationale for this transaction, as both companies have late clinical-stage programs targeting acute myocardial infarction,” says Peter Selin, CEO of Kancera.

“By combining our assets and resources, we can create a specialty care company with a compelling pipeline and equity story that would be an attractive investment for US and European specialist investors,” adds Selin.

Structure and payments for such a license agreement are yet to be decided

Structure and payments for such a license agreement are yet to be decided. Under the letter of intent agreement, the companies will evaluate the final terms for the potential joint business, including financing options, they state.

“A partnership with Recardio would be beneficial for Kancera and its shareholders. The general capital market situation for publicly listed biotechs remains challenging, but combining our efforts together with Recardio in the US is an opportunity that may open up new financing options and allow us to advance our program into the next clinical phase,” says Erik Nerpin, chairman of the board at Kancera.    

Cardiovascular diseases

Kancera is developing the small molecule fractalkine-blocking drug candidates, KAND567 and KAND145, to treat cardiovascular diseases, initially with a focus on the treatment of acute myocardial infarction in high-risk patients (STEMI). In a phase IIa clinical study, KAND567 demonstrated that its highly selective immune cell modulatory effect has the potential to reduce intramyocardial hemorrhage and thereby reduce the risk of major adverse cardiovascular events in STEMI patients undergoing primary percutaneous coronary intervention (PCI). The company intends to advance the program and conduct a phase IIb study, planned to start in 2026.