KY1043 is a human monoclonal antibody that provides targeted immune checkpoint inhibition coupled with dose-dependent anti-tumour activity by combining our proprietary PD-L1 blocking antibody and a reduced potency, or attenuated, version of the cytokine IL-2 in a single immunocytokine. KY1043 is designed to block immunosuppressive ‘‘checkpoint’’ signals, to allow the immune system to recognize and kill tumours while also localizing IL-2 delivery to the tumour cells’ surface. These combined activities should increase immune cell recruitment and expansion and anti-tumour activity in the tumour microenvironment. Both anti-PD-L1 and IL-2 are approved cancer immunotherapies, however we believe that we can improve the safety profile of IL-2 and limit or avoid the serious adverse events associated with its systemic delivery by attenuating its potency and localizing it directly to tumours. We anticipate filing an Investigational New Drug application for KY1043 in 2021.