Kancera AB (Nasdaq First North Premier Growth Market:KAN), a developer of anti-inflammatory drugs in the field of cardiovascular diseases, said on Friday that it has signed a letter of intent with US biotech company Recardio Inc to explore the licensing of its fractalkine programme, including drug candidates KAND567 and KAND145.

The agreement aims to create a late-stage cardiovascular specialty care company by combining Kancera's phase II assets with Recardio's phase III-ready dutogliptin programme.

If finalised, the deal would position Recardio with two competitive late-stage clinical programmes targeting disease-modifying interventions for post-myocardial infarction treatment. Kancera's KAND567 phase IIb trial is scheduled to begin in 2026, while Recardio's dutogliptin phase III trial is expected to start in 2025, with key inflection points projected for 2028.

Kancera's KAND567 demonstrated potential in reducing intramyocardial haemorrhage in a phase IIa study, supporting its development for high-risk STEMI patients undergoing primary percutaneous coronary intervention.

Under the letter of intent agreement the two companies will evaluate final licensing terms, financing options and the structure of a potential joint business.