Mission Therapeutics has agreed to divest its phase 2-ready acute kidney injury candidate MTX652 to Australian renal specialist Dimerix Limited in a deal worth up to US$292 million in upfront and milestone payments, alongside potential double-digit tiered royalties on global net sales.

The Cambridge-based biotech said the transaction validates its USP30 platform and will provide non-dilutive capital to accelerate MTX325, its lead CNS programme currently in phase 1 development for Parkinson’s disease.

Mission described MTX652 as a first-in-class and best-in-class selective USP30 inhibitor designed to promote the removal of dysfunctional mitochondria. The asset will now be advanced by Dimerix for initial development in acute kidney injury.

Dr Anker Lundemose, Executive Director at Mission Therapeutics, said: “MTX652 has demonstrated a compelling clinical profile in phase 1 development completed by Mission Therapeutics to date.

“There is a substantial unmet need for novel efficacious therapies for acute kidney diseases and MTX652 represents a unique step forward for patients with these conditions. Dimerix’s deep domain focus on renal disease and their proven operational expertise make them an excellent partner to further the development and commercialisation of this important drug.”

He added: “This transaction provides an expedited path to patients for MTX652. It also strengthens Mission’s financial position, which will enable us to accelerate development of our lead CNS-focused asset MTX325.”

Dr Nina Webster, CEO & Managing Director at Dimerix, explained: “MTX652 represents an exciting and differentiated novel compound, and the acquisition of a phase 2-ready programme in acute kidney disease represents an important step in executing our strategy to expand our renal pipeline.”

She continued: “This asset is highly complementary to our phase 3 FSGS programme and broadens our development footprint across the kidney disease continuum, from acute injury through to chronic disease.”

Jasper Therapeutics has completed its all-stock acquisition of Kira Pharmaceuticals, creating a combined business focused on developing biologic agents for a wide range of immunologically-driven conditions.

The deal is accompanied by a $132 million private placement co-led by Affinity Asset Advisors and Ikarian Capital, with participation from multiple life sciences investors and Mirador Therapeutics.

The financing, alongside an out-licensing agreement with Mirador worth $12 million upon signing, is expected to fund operations through the second half of 2028. The company will continue to trade on Nasdaq under the ticker JSPR.

The combined pipeline includes KP-104, a dual-complement inhibitor being developed for paroxysmal nocturnal haemoglobinuria and renal disorders; briquilimab, an anti-KIT antibody for transplant and immunologic indications; and KP-701, a dual-acting monoclonal antibody for autoantibody-mediated diseases.

Jasper expects to reach several clinical milestones over the coming years, including KP-104 phase 2 results, an end-of-phase 2 FDA meeting to support a potential phase 3 study, advancement of briquilimab in Severe Combined Immunodeficiency to a pre-Biologics License Application meeting, and first-in-human data for KP-701.

Jeet Mahal, President and Chief Executive Officer of Jasper, said: “We are pleased to announce this transaction with Kira following a thorough evaluation of strategic alternatives.

“Kira has built a truly differentiated complement portfolio that includes dual MOA beyond single-pathway agents and long-acting complement inhibitors, reflecting the quality of their science and the deep expertise of their team.”

He added: “We are excited by the robust pipeline that this transaction creates, and are looking forward to advancing these important medicines for patients.”

Patrick Crutcher, formerly Chairman of the Board of Kira, said: “Today’s announcement marks a transformative step for the product candidates that Kira has developed. As we advance as part of Jasper, our mission is to develop biologic agents designed to improve outcomes in patients suffering from numerous immunologically driven disorders.”