Kineta Collects $942K

Luke Timmerman1/9/10

Kineta, a Seattle-based company developing treatments for viral infections and autoimmune diseases, has raised $942,000 in the form of equity, debt, and options from 25 investors, according to a regulatory filing. The company pulled in a bigger sum in November, garnering about half of a $13 million grant from the National Institutes of Health, in which it will seek to develop new adjuvant compounds that boost the effectiveness of vaccines. “This is evidence that our business model is working,” says Meg O’Connor, Kineta’s director of investor relations.

Luke Timmerman is the National Biotech Editor of Xconomy, and the Editor of Xconomy Seattle. E-mail him at ltimmerman@xconomy.com or follow him on Twitter at twitter.com/ldtimmerman.