Tromsø, Norway, and Dortmund, Germany – April 25th, 2024. KinSea Lead Discovery AS, a biopharmaceutical start-up pioneering the use of marine bioactives for the treatment of human diseases, announces the successful first closing of its seed financing round. It includes an equity investment from KHAN Technology Transfer Fund I GmbH & Co KG (KHAN-I), an early-stage life sciences venture fund based in Germany, and welcomes the new investor Berners AS, a North Norwegian investment company. A year ago, KinSea had already secured a convertible loan from KHAN-I, which was recently converted into shares.

The financing enables the company to further develop its lead program, a FLT3 kinase inhibitor based on unique chemistry from marine sources, towards preclinical and clinical testing. Data from in vivo proof-of-concept studies suggest superior properties over existing FLT3 inhibitors, including potential broad activity against known drug-induced and drug-resistant FLT3 mutations, improved selectivity, and outstanding in vivo potency. The program originates from the successful collaboration of the founding partners, Arctic University of Norway (UiT), University of Bergen (UiB), Norinnova, and Lead Discovery Center GmbH (LDC).

‘We are grateful for the continued confidence and support from KHAN-I, and delighted to welcome Berners AS on board’, says Jeanette Hammer Andersen, CEO of KinSea. ‘This first closing validates the transformative potential of our approach. We are very committed to take our FLT3 inhibitors through the next stages of drug discovery and development in order to provide entirely new treatment options for AML patients that are safer and more effective’.

KinSea also plans to gradually expand its drug discovery pipeline and establish a diversified portfolio of high-potential drug candidates based on novel chemical scaffolds from the Arctic Ocean for the treatment of cancer and other diseases.

‘We are excited to reaffirm our commitment to KinSea and its groundbreaking work in the field of marine-derived therapeutics. The team has made significant progress over the last year, and we are convinced that their unique approach and capable team will continue to drive the maturation and expansion of their pipeline, and eventually make a meaningful impact on patients’ lives, in particular with regard to urgently needed, improved therapies for AML patients’, comments Bert Klebl, Managing Director of KHAN-I.

Mats Sæverud, CEO of Berners AS, adds: ‘In KinSea, we found an ambitious startup company that wants to make an important impact by employing natural products from the Arctic Ocean. The KinSea team has bold visions, scalable solutions, excellent expertise and skills, and fits well with Berners´ ambitions.’

KinSea has already started discussions with further investors for a second and final closing.

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Contact
Lead Discovery Center GmbH
Otto-Hahn-Straße 15
44227 Dortmund
Germany
Phone: +49 231 97 42 70 00
Mail: pr@lead-discovery.de

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About KHAN-I

KHAN Technology Transfer Fund I GmbH & Co KG (KHAN-I) is an early-stage life sciences venture fund with €70 million under management. Our mission is to create value through cooperative drug development partnerships with academic innovators in Europe. KHAN-I focuses on first-in-class therapies for attractive markets with a high unmet medical need. The fund is managed by Khanu Management GmbH, an experienced team of professionals with proven track records in early-stage drug development and academic spin-offs as well as pharma licensing and partnering. KHAN-I received an investment from the European Investment Fund (EIF) with the support of InnovFin Equity, and with the financial backing of the European Union under Horizon 2020 Financial Instruments and the European Fund for Strategic Investments (“EFSI”) under the Investment Plan for Europe. KHANI is also supported by Austria Wirtschaftsservice GmbH (AWS with funds provided by the Austrian

Federal Ministry for Digital and Economic Affairs and the Austrian Foundation for Research, Technology, and Development), Max Planck Foundation, and Thyssen’sche Handelsgesellschaft mbH. In addition, KHAN-I sustains a preferred partnership with the Max-Planck Society (Max-Planck Gesellschaft e.V.).

Further information at www.khanu.de

About Berners AS

Berners AS is a newly established, privately owned investment company, based in Tromsø, Norway. Through investments and active ownership, Berners will contribute to the development of profitable and sustainable businesses, especially within the seafood and marine sector. We aim to be a supporter of the development of brands and competence clusters in Northern Norway. Our investment strategy is based on our knowledge and love for the coast and the sea, and the opportunities that exist there. Berners is owned by Triko AS (80%) and Larren Invest AS (20%).

About Norinnova

Norinnova is one of Northern Norway’s most competent and experienced agencies for research commercialization. Norinnova connects researchers, start-up environments, companies and commercial actors to develop and utilize the region’s innovation power. For more than 30 years, Norinnova has worked closely with researchers and leading research communities in Northern Norway to harness the power of innovation in this region. This collaboration has contributed to the creation of brand-new businesses and has reinforced existing companies through new products and services. Norinnova secures rights, helps provide funding, investigates market potential, finds relevant partners, and contributes so that the scientists can get their product or service to the market.

Further information available at: www.norinnova.no

About LDC

Lead Discovery Center GmbH (LDC) was established in 2008 by the technology transfer organization Max Planck Innovation, as a novel approach to capitalize on the potential of excellent basic research for the discovery of new therapies for diseases with high medical need. LDC takes on promising early-stage projects from academia and transforms them into innovative pharmaceutical leads and antibodies that reach initial proof-of-concept in animals as well as candidate nomination. In close collaboration with high-profile partners from research and industry, LDC is building a strong and growing portfolio of small molecule and antibody leads with exceptional medical and commercial potential.

LDC sustains a long-term partnership with the Max Planck Society and its institutes as well as with KHAN-I, and has formed alliances with AstraZeneca, Bayer, Boehringer Ingelheim, Merck KGaA, Daiichi Sankyo, Qurient, InvIOS, Novo Nordisk, Cumulus Oncology, Nodus Oncology, JT Pharmaceuticals, KinSea Lead Discovery AS, HLB Pharma, the Helmholtz Center for Infection Research, e.g. In addition, LDC also works with leading translational drug discovery centers and with various investors to provide its assets for company creation.

Further information available at: www.lead-discovery.de

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Cardiac Ca2+/Calmodulin-dependent Kinase II (CaMKII) plays a central role in maladaptive processes in the diseased heart. The partners aim to develop a new class of CaMKII modulators by using an innovative strategy, expected to block the aberrant effects of CaMKII while preserving physiological CaMKII functions.

The approach was discovered and validated by Prof. Johannes Backs and his team at the Heidelberg University Hospital, and further advanced together with the LDC. During this phase, Prof. Backs´ research was supported by the German Centre for Cardiovascular Research (DZHK) with a programme that promotes the translation of approaches from basic research into clinical application. In their year of collaboration, the partners succeeded in generating a range of promising hit compounds.

“It is a great pleasure for us to continue working with the excellent team around Prof. Backs and to welcome Novo Nordisk on board for the second phase of our collaboration, focusing on hit-to-lead development. We very much appreciate their early involvement and look forward to their input which will be extremely valuable in guiding project progress”, says Bert Klebl, CEO & CSO of the LDC. “Heart failure is one of the most prevalent and deadly diagnoses upon hospital admission, and despite therapeutic progress we still see high rates of mortality and morbidity”, adds Prof. Johannes Backs. “Our approach has the potential to offer a new, effective and safe treatment, and we are thrilled to be working with the LDC and Novo Nordisk to advance it towards application”.

“We are very excited to enter this collaboration leveraging on decades of research supporting CaMKII as a target in heart failure. This is a unique opportunity to enter a partnership with deep biological understanding and excellent technical skills aiming at discovering novel treatments for patients living with heart failure. This in addition, supports the ambition of Novo Nordisk to deliver disease modifying treatments for patients suffering from this condition”, says Karin Conde-Knape,
SVP of Global Drug Discovery at Novo Nordisk.

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>> Contact
PR Lead Discovery Center
+49 (0)231-97 42 70 00
pr@lead-discovery.de
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About LDC
Lead Discovery Center GmbH (LDC) was established in 2008 by the technology transfer organization Max Planck Innovation, as a novel approach to capitalize on the potential of excellent basic research for the discovery of new therapies for diseases with high medical need. The LDC takes on promising early-stage projects from academia and transforms them into innovative pharmaceutical leads and antibodies that reach robust proof-of-concept in animals. In close collaboration with high-profile partners from academia and industry, the LDC is building a strong and growing portfolio of drug candidate compounds with exceptional medical and commercial potential. The LDC has formed alliances with e.g. AstraZeneca, Bayer, Boehringer Ingelheim, Merck KGaA, Daiichi Sankyo, Qurient, and sustains a long-term partnership with the Max Planck Society and KHAN-I GmbH & Co.KG. In addition, LDC also works with leading translational drug discovery centers and with various investors to provide its assets for company creation.
For more information, please visit: www.lead-discovery.de

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The collaboration builds on the complementary expertise of both organisations. LDC contributes a proven track record in drug discovery and a team of scientists with the expertise and the deep insights necessary to develop assets modulating a range of oncology targets derived from its large academic network. Cumulus Oncology brings a team of successful life science entrepreneurs with a recognised track record in translational oncology drug development, as well as oncologists, scientists and pharma sector business professionals.

This collaboration is based around the reciprocal contribution of each group and the motivation to develop a growing portfolio of small molecule and biological assets with exceptional medical and commercial potential. Each party provides targets and assets in the oncology area for collaboration and potential future company co-creation as well as bringing a wider access to funding partners and collaborators globally.

“We anticipate that joining forces with Cumulus Oncology will leverage early-stage novel oncology approaches from our research networks, turning these early-stage assets into true innovations in cancer research and therapies”, stated Bert Klebl, CEO and CSO of the LDC. “This strategic partnership with one of the leading drug discovery centres in Europe provides a unique opportunity for Cumulus Oncology to fuel its pipeline of next generation novel oncology assets” said Alan Wise, Chairman of Cumulus Oncology.
“We are very much looking forward to working with our colleagues at LDC to the mutual benefit of both our organisations and ultimately to the benefit of the cancer research community, most especially, the patients dealing with a cancer diagnosis” added Clare Wareing, Founder and CEO of Cumulus Oncology.

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> Contact
PR Lead Discovery Center
+49 (0)231-97 42 70 00
pr@lead-discovery.de
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About Cumulus Oncology
Founded in 2017, Cumulus sources novel oncology assets from academic institutes, commercial drug discovery groups and biopharmaceutical companies. The company also identifies novel targets for drug discovery programmes which it supports and collaborates on. Following rigorous due diligence and market assessment activities, negotiations on deal terms and in-depth feasibility on the investment case, selected assets are spun out into newly created companies. These NewCos are managed to key value inflection points by Cumulus which also takes responsibility for further investment into each Newco via its network of VC partners. The founding team consists of successful life science entrepreneurs, oncologists, scientists and other oncology drug development and pharma sector business professionals. Asset classes of interest include small molecules and biologics which target known and novel pathways in cancer, where there is a clear path forward into clinical development, often in molecularly selected sub-groups.
For more information, please visit: www.cumulusoncology.com

About LDC
Lead Discovery Center GmbH (LDC) was established in 2008 by the technology transfer organization Max Planck Innovation, as a novel approach to capitalize on the potential of excellent basic research for the discovery of new therapies for diseases with high medical need. The LDC takes on promising early-stage projects from academia and transforms them into innovative pharmaceutical leads and antibodies that reach initial proof-of-concept in animals as well as candidate nomination. In close> collaboration with high-profile partners from research and industry, the LDC is building a strong and growing portfolio of small molecule and antibody leads with exceptional medical and commercial potential. The LDC sustains a long-term partnership with the Max Planck Society, KHAN-I GmbH & Co.KG and has formed alliances with AstraZeneca, Apeiron, Bayer, Boehringer Ingelheim, Merck KGaA, Daiichi Sankyo, Qurient, e.g. In addition, LDC also works with leading translational drug discovery centers and with various investors to provide its assets for company creation.
For more information, please visit: www.lead-discovery.de

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Q702 is an orally available triple kinase inhibitor targeting Axl, Mer and CSF1R. It was discovered at the Max Planck Institute of Biochemistry and further developed at the LDC, before it was licensed to Qurient for further optimization and preclinical and clinical development. The candidate was shown to boost immune cells in the tumor microenvironment and to raise tumor visibility to the immune system. It may provide new options to patients for whom available therapies are ineffective.

For the original press releases, see:

Qurient’s latest press release from January 26th, 2021
Qurient’s and LDC’s press release on IND approval from May 2020

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>> Contact
PR Lead Discovery Center
+49 (0)231-97 42 70 00
pr@lead-discovery.de
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About Qurient
Qurient is a clinical-stage biopharmaceutical company listed in Korea Exchange (KRX 115180). Qurient mainly focuses on development of novel therapeutics from discovery to human proof of concept stages through virtual R&D project management platform. Qurient currently has three programs in clinical development: Q301, a topical leukotriene inhibitor for atopic dermatitis, completed Phase 2b study; telacebec (Q203), a first-in-class orally available cytochrome bc1 inhibitor for tuberculosis, completed Phase 2 study; and Q702, entering Phase 1/2 study. Qurient recently nominated Q901, a selective CDK7 inhibitor, as a preclinical candidate for solid tumors, which is expected to enter the clinic in 2021. For more info, please visit www.qurient.com.

About LDC
Lead Discovery Center GmbH was established in 2008 by the technology transfer organization Max Planck Innovation, as a novel approach to capitalize on the potential of excellent basic research for the discovery of new therapies for diseases with high medical need. The Lead Discovery Center takes on promising early-stage projects from academia and transforms them into innovative pharmaceutical leads and antibodies that reach initial proof-of-concept in animals. In close collaboration with high-profile partners from academia and industry, the Lead Discovery Center is building a strong and growing portfolio of small molecule leads with exceptional medical and commercial potential. The Lead Discovery Center sustains a long-term partnership with the Max Planck Society, KHAN-I GmbH & Co.KG and has formed alliances with AstraZeneca, Bayer, Boehringer Ingelheim, Merck KGaA, Daiichi Sankyo, Qurient, e.g. In addition,LDC also works with leading translational drug discovery centers and with various investors to provide its assets for company creation. Further information at: www.lead-discovery.de.

About Max Planck Innovation
Max Planck Innovation (MI) is responsible for the technology transfer of the Max Planck Society and, as such, the link between industry and basic research. With an interdisciplinary team, MI advises and supports scientists at Max Planck Institutes in evaluating their inventions, filing patents and founding companies. MI offers industry unique access to the innovations of the Max Planck Institutes. Thus, MI performs an important task: the transfer of basic research results into products that contribute to economic and social progress. Further information at: www.max-planck-innovation.com.

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