SAN DIEGO – March 12, 2026 – Kenai Therapeutics, a clinical-stage biotechnology company pioneering next generation approaches to cure neurological conditions, today announced the appointment of Allen Waldrop to the company’s Board of Directors. Mr. Waldrop is a veteran financial executive with deep experience in key institutional investment functions, including portfolio strategy and capital allocation.

“We are delighted to welcome Allen to our Board of Directors at an important stage of clinical execution and company development,” said Nick Manusos, Chief Executive Officer of Kenai Therapeutics. “His expertise in capital planning and long-term portfolio oversight will be instrumental as we advance our lead candidate, RNDP-001, through the next phase of clinical development, and continue progressing our pipeline for neurodegenerative diseases.”

Mr. Waldrop currently serves as Deputy Chief Investment Officer for Private Markets at the Alaska Permanent Fund Corporation, which manages approximately $87 billion in assets. In this role, he oversees the Private Equity, Private Credit, Infrastructure, and Real Estate investment programs and is responsible for portfolio strategy, manager selection, and oversight across a diversified investment platform.

Mr. Waldrop began his career at KPMG and has worked in a broad range of accounting, M&A, investment, and consulting roles across a number of investment and advisory firms. He holds a Bachelor of Science degree in Accounting from San Diego State University. He is a CFA charterholder and a Certified Public Accountant, inactive.

About RNDP-001

RNDP-001 is an off-the-shelf, allogeneic neuron replacement cell therapy designed to restore motor function by replacing the dopamine-producing neurons lost to Parkinson's disease. The therapy is currently being investigated in the Phase 1 REPLACE™ clinical trial, an open-label, multi-center study evaluating the safety and tolerability of RNDP-001, as well as brain imaging evidence of cell survival, engraftment and new brain network function, in adult patients with moderate to moderate-severe idiopathic Parkinson's disease. Initial safety, tolerability and brain imaging data are expected in 2026. RNDP-001 has been granted Fast Track designation by the U.S. Food and Drug Administration (FDA) in recognition of the urgent need for new treatments for Parkinson's disease. The REPLACE™ clinical trial was made possible by funding from the California Institute for Regenerative Medicine (CIRM), a state of California Agency that funds regenerative medicine, stem cell, and gene therapy research. (Grant Numbers CLIN1-14300; CLIN2-19068).

About Kenai Therapeutics

Kenai Therapeutics is a clinical-stage biotechnology company pioneering next generation approaches to cure neurological conditions. By leveraging a proprietary, Nobel Prize-winning iPSC platform, Kenai is developing off-the-shelf, allogeneic neuron replacement and gene-modified cell therapies designed to be disease-modifying. Kenai’s lead candidate, RNDP-001, is in Phase 1 clinical development for moderate to moderate-severe forms of idiopathic Parkinson’s disease. The company’s additional programs target inherited and genetically driven subtypes of Parkinson’s disease and other neurological conditions, with the goal of delivering long-lasting restoration of function. Kenai’s exclusive manufacturing partnership with FUJIFILM Cellular Dynamics, Inc. enables scalable, cryopreserved production of high-potency cell therapies. Founded in 2022, Kenai is backed by leading life science investors and is headquartered in San Diego, CA. For more information, visit www.kenaitx.com and follow us on LinkedIn and Bluesky.

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