Kindred Biosciences, Inc. announced that it has been selected by the National Cancer Institute as one of three contractors in response to the solicitation for the PREVENT Cancer Preclinical Drug Development Program: Current Good Manufacturing Practice Production of Vaccines and Biologicals for Cancer Prevention.
SAN FRANCISCO, Sept. 10, 2019 /PRNewswire/ -- Kindred Biosciences, Inc. (NASDAQ: KIN), a commercial-stage biopharmaceutical company developing novel drugs and biologics, today announced that it has been selected by the National Cancer Institute (NCI) as one of three contractors in response to the solicitation for the PREVENT Cancer Preclinical Drug Development Program (PREVENT): Current Good Manufacturing Practice (cGMP) Production of Vaccines and Biologicals for Cancer Prevention (cGMP Pool). As a cGMP pool contractor, KindredBio is eligible to provide manufacturing, formulation and analytical services to meet the needs of the PREVENT pipeline.
PREVENT is an NCI-supported venture to advance preclinical development of innovative cancer prevention interventions and biomarkers towards clinical applications. A maximum amount of $49.95 million will be shared across three contract pools, one of which is the cGMP manufacturing pool. Within the cGMP pool, KindredBio is one of three contractors selected for award. The contract term is four years, with specific amounts based on individual task order awards yet to be determined.
“This selection is a validation of our manufacturing and project management expertise, and we look forward to working with the NCI on this important program,” said Richard Chin, CEO of KindredBio.
KindredBio operates a state-of-the-art biological development and cGMP manufacturing facility in Burlingame, CA, and recently completed construction on a 180,000 square foot large scale cGMP manufacturing facility in Elwood, KS.
The company’s core expertise includes protein engineering, cell line development, master cell banking, process development, assay development, stability testing, and cGMP clinical and commercial manufacturing. KindredBio’s biologics team comprises experts in product development, manufacturing, quality control and quality assurance personnel, and is supported by a strong project management organization.
For additional information on PREVENT, please click here. Task orders awarded to KindredBio are expected to be conducted at the company’s cGMP manufacturing facility in Burlingame, CA.
This project has been funded in whole or in part with Federal funds from the National Cancer Institute, National Institutes of Health, Department of Health and Human Services, under Contract No. 75N91019D00027.
About Kindred Biosciences
Kindred Biosciences is a commercial-stage biopharmaceutical company focused on saving and improving the lives of pets. Its mission is to bring to pets the same kinds of safe and effective medicines that human family members enjoy. The company’s strategy is to identify compounds and targets that have already demonstrated safety and efficacy in humans and to develop therapeutics based on these validated compounds and targets for dogs, cats, and horses. KindredBio has a deep pipeline of novel drugs and biologics in development across many therapeutic classes.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, but not limited to, statements regarding our expectations about the trials, regulatory approval, manufacturing, distribution and commercialization of our current and future product candidates, and statements regarding our anticipated revenues, expenses, margins, profits and use of cash.
These forward-looking statements are based on our current expectations. These statements are not promises or guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results to be materially different from any future results expressed or implied by the forward-looking statements. These risks include, but are not limited to, the following: our limited operating history and expectations of losses for the foreseeable future; the absence of significant revenue from our products and our product candidates for the foreseeable future; the likelihood that our revenue will vary from quarter to quarter; our potential inability to obtain any necessary additional financing; our substantial dependence on the success of our products and our lead product candidates which may not be successfully commercialized even if they are approved for marketing; the effect of competition; our potential inability to obtain regulatory approval for our existing or future product candidates; our dependence on third parties to conduct some of our development activities; our dependence upon third-party manufacturers for supplies of our products and our product candidates; uncertainties regarding the outcomes of trials regarding our product candidates; our potential failure to attract and retain senior management and key scientific personnel; uncertainty about our ability to develop a satisfactory sales organization; our significant costs of operating as a public company; our potential inability to obtain and maintain patent protection and other intellectual property protection for our products and our product candidates; potential claims by third parties alleging our infringement of their patents and other intellectual property rights; our potential failure to comply with regulatory requirements, which are subject to change on an ongoing basis; the potential volatility of our stock price; and the significant control over our business by our principal stockholders and management.
For a further description of these risks and other risks that we face, please see the risk factors described in our filings with the U.S. Securities and Exchange Commission (the SEC), including the risk factors discussed under the caption “Risk Factors” in our Annual Report on Form 10-K and any subsequent updates that may be contained in our Quarterly Reports on Form 10-Q filed with the SEC. As a result of the risks described above and in our filings with the SEC, actual results may differ materially from those indicated by the forward-looking statements made in this press release. Forward-looking statements contained in this press release speak only as of the date of this press release and we undertake no obligation to update or revise these statements, except as may be required by law.
Contacts
Katja Buhrer
Katja.buhrer@kindredbio.com
(917) 969-3438
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SOURCE Kindred Biosciences, Inc.
Company Codes: NASDAQ-SMALL:KIN
