Ignota Labs Acquires Kronos Bio's Pipeline, Breathing New Life into Shelved Drug Candidates

In a strategic move that highlights the growing trend of rescuing abandoned drug programs, UK-based Ignota Labs has acquired the clinical pipeline of Kronos Bio. This acquisition, valued at less than $300,000, marks a significant development in the pharmaceutical industry's approach to drug development and asset management.

Ignota's Innovative Approach to Drug Rehabilitation

Ignota Labs, known for its software designed to identify root causes of drug safety problems, is expanding its portfolio by targeting shelved drug candidates. The company's business model focuses on acquiring assets that have shown therapeutic potential but were discontinued due to various setbacks.

Sam Windsor, co-founder and CEO of Ignota, explained the strategy: "We are acquiring assets that have demonstrated therapeutic effect, but failed in their development and were shelved despite tens of millions of dollars already invested in them. This is where Ignota Labs come in: unlocking value by turning around failing drugs so that they can quickly get back into clinical trials and bring fresh hope to the patients waiting for these drugs."

Key Assets in the Acquisition

The deal with Kronos Bio includes three main assets:

1. Istisociclib: A CDK9 inhibitor that Kronos discontinued due to neurological side effects. Ignota plans to salvage this candidate by reducing brain penetration and optimizing pharmacokinetics.

2. Entospletinib: A SYK inhibitor whose phase 3 trial in acute myeloid leukemia (AML) was stopped by Kronos in 2022 due to enrollment challenges.

3. Lanraplenib: Another SYK inhibitor that Kronos dropped after reviewing phase 1b data in AML.

Ignota's pipeline now lists SYK as its most advanced target, with plans to focus on immune thrombocytopenic purpura and chronic lymphocytic leukemia.

Financial Terms and Future Prospects

While the initial acquisition cost was relatively low, the deal includes a provision for Kronos' shareholders to benefit if the drugs progress to phase 3 trials. This structure aligns with Ignota's model of identifying undervalued assets with significant potential.

The acquisition comes in the wake of Kronos Bio's recent struggles, which led to layoffs and the company's eventual acceptance of a buyout bid from Concentra Biosciences. Ignota's intervention presents a potential second chance for these drug candidates and could provide valuable insights into the viability of rescuing shelved programs in the pharmaceutical industry.