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Kiora Pharmaceuticals Reports 2023 Results; Continues to Advance Pipeline of Treatments for Rare Retinal Diseases
Recent Strategic Partnership and Financing Expected to Fund Operations Through 2026 Encinitas, California--(Newsfile Corp. - March 25, 2024) - Kiora
About this update from Kiora Pharmaceuticals, Inc.
[{"type":"text","content":"Recent Strategic Partnership and Financing Expected to Fund Operations Through 2026\nEncinitas, California--(Newsfile Corp. - March 25, 2024) - Kiora Pharmaceuticals, Inc. (NASDAQ: KPRX) (\"Kiora\" or the \"Company\") today announced its 2023 financial results and provided an update on its retinal disease development pipeline. The Company's major initiatives planned for 2024 are to initiate Phase 2 clinical development of KIO-301, a small molecule photoswitch, for the treatment of inherited retinal diseases, starting with retinitis pigmentosa (RP); and further development of KIO-104, an intravitreal, anti-inflammatory for treatment of non-infectious uveitis. The $16 million upfront payment from Kiora's development and commercialization partnership with Théa Open Innovation (TOI) for KIO-301 and its $15 million private placement are expected to be sufficient to fund the Company through 2026, excluding any potential partnership milestones or warrant exercises.\n\"Our greatest priorities this year are to advance KIO-301 and KIO-104 to assess their further potential to benefit patients,\" said Brian M. Strem, Ph.D., chief executive officer of Kiora. \"Both products are clinically validated drug candidates based on proprietary and innovative small molecules targeting rare retinal diseases with large unmet needs.\n\n\nKiore’s pipeline of drug candidates against rare retinal diseases.\nTo view an enhanced version of this graphic, please visit:\nhttps://images.newsfilecorp.com/files/8481/202957_9dbc9159e4820ae8_001full.jpg\n\"KIO-301 could potentially become the first vision restoring option for patients with inherited retinal degenerative diseases like RP. Ongoing development will be collaboratively guided and fully funded by our partner, TOI. Should KIO-301 gain marketing authorization, it would provide Kiora with meaningful commercial milestones and royalties up to the low 20s (%) with a partner who has a proven track-record of leadership in the eye space. Working with TOI, we are finalizing details of the randomized, double-masked, controlled, dose-ascending Phase 2 trial in RP and look forward to providing more specifics on expected enrollment and results timelines.\n\"The balance sheet provides us the financial ability to fund further development of KIO-104 for the treatment of posterior non-infectious uveitis. Because non-infecti...