angelMD Invests in Seattle Based Kineta

angelMDangelMD has announced their platform’s first investment.  Seattle based Kineta was the beneficiary of angelMD’s investment, terms were not disclosed.

Kineta, founded in 2008 by experienced entrepreneurs Drs. Charles Magness and Shawn Iadonato, has a five compound pipeline with their lead drug being ShK-186 in Phase 1B clinical trial for psoriatic arthritis.  Kineta is also the major subcontractor of a University of Washington project which was awarded an NIH grant of up to $11.6 million to develop novel vaccine adjuvants, agents that help boost the body’s immune response.

Charles Weaver“Kineta has a solid management team, great science, and an innovative funding strategy that creates opportunity for our physician investors. They are a great match for the angelMD physician community and we’re excited about watching and participating in their success,” said Charles Weaver, MD, angelMD SVP of Clinical and Business Development.

Charles Magness Kineta  CEO added,

“angelMD delivers the same creative approach to healthcare funding that Kineta brings to biotechnology development. Their model is perfectly aligned with the interests of innovative companies, and we are excited to have a network of clinicians partnering with us financially.”

Based in San Francisco and Seattle,  angelMD is a private equity firm leveraging a powerful crowdfunding platform that connects physician investors with innovative medical startups seeking capital investments, advisors, and users.

 

 

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