Kinex Completes Acquisition Of CDMO QuaDPharma
By Cyndi Root
Kinex Pharmaceuticals announced in a press release that it has completed the acquisition of contract development and manufacturing organization (CDMO) QuaDPharma. The New York State manufacturing facility also engages in analytical and support services for the pharmaceutical industry. Rand Capitol and others have been funding QuaDPharma. Allen Grum, CEO of Rand Capital, said, “Kinex was one of their first customers and as part of this transaction Rand is now a shareholder in Kinex.”
Kinex and QuaDPharma Agreement
Kinex and QuaDPharma did not disclose the financial terms of their agreement. Dr. Johnson Lau, Kinex Board Chairman and CEO, said that the acquisition provides Kinex with cGMP manufacturing capabilities. With its recent global growth, Kinex will able to take advantage of those manufacturing and services opportunities. Dr. Lau said, “We see numerous value creating opportunities in the specialty pharmaceutical industry.”
About Kinex
Headquartered in Buffalo, NY, Kinex was founded in 2004. Its focus is on therapies for cancer and immunomodulatory diseases. The company currently possesses five proprietary clinical oncology drug candidates under development across multiple continents.
In July 2014, Kinex announced that the Food and Drug Administration approved its Investigational New Drug (IND) application for KX2-391, allowing the drug to enter into a Phase I clinical study for actinic keratosis. KX2-391 is an inhibitor of Src tyrosine kinase signaling and tubulin polymerization. Hanmi Pharmaceuticals and Kinex also announced in June 2014 that a Phase I/II clinical proof-of-concept study showed that Oraxol, an oral form of paclitaxel, achieved therapeutically effective levels as monotherapy, resulting in partial responses.
About QuaDPharma
Stephen A. Panaro, Ph.D., founded QuaDPharma in 2010 with a focus on small-scale, pre-commercial, and commercial manufacturing. The company provided one-time manufacturing and scaled manufacturing as well as product stability and analytical services. QuaDPharma is located in Western New York, a growing hub for the pharmaceutical industry. Also in the region is Albany Molecular Research, a global CDMO, with locations in Europe and Asia. It works in Large Scale Manufacturing (LSM) and Discovery and Development Solutions (DDS).