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Kitov Enters Immuno-Oncology Field Through Acquisition of TyrNovo

TyrNovo’s NT219 drug candidate works by overcoming tumors’ cancer drug resistance

Kitov Pharmaceuticals has expanded its pipeline through the acquisition of TyrNovo, a privately held developer of novel small molecules in the immuno-oncology therapeutic field, for $3.8 million.

The expansion into developing immuno-oncology drugs comes as Kitov plans to file its New Drug Application (NDA) with the FDA for its flagship combination drug, KIT-302, which is intended to treat osteoarthritis pain and hypertension simultaneously, in Q1 2017, with commercial launch anticipated for the first half of 2018. Kitov plans to harness its development and regulatory capabilities in proceeding towards submitting an investigational new drug (IND) application with the FDA and initiate clinical trials for its newly acquired drug, NT219.

The market for immuno-oncology treatments is believed to become worth $14 billion by 2019 and to grow to $34 billion by 2024, driven by long-term and durable tumor responses to immuno-oncology drugs, according to Global Data.

“The TyrNovo acquisition represents a major milestone in Kitov’s strategic vision of establishing a diverse pipeline that we believe will secure long-term value creation for its shareholders,” said Paul Waymack, chairman and chief medical office, Kitov. “We are excited about NT219 and its prospects in the oncology field. NT219 can be developed as a platform combination drug for overcoming multi-drug resistance often observed in various tumors. It has the potential to be developed as a combination therapy with several approved oncology drugs for multiple types of tumors.”

Hadas Reuveni, chief executive officer, TyrNovo, said, “I am excited to join Kitov and its team to expedite the development of NT219, which addresses a true unmet medical need for numerous oncology indications. Cancer drug resistance is the major reason for failure in anti-cancer drug treatment. Preventing resistance to the drugs is critical for improving effective cancer treatment.” 

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