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Fundraisings and IPOs

Date: 2011-05-24

Type of information: Fundraising

Company: Genkyotex (Switzerland)

Investors: Edmond de Rothschild Investment Partners (EdRIP) (France) - Vesalius Biocapital Partners (Luxembourg) - MP Healthcare Venture Management (USA) - Eclosion (Switzerland) - SEFTI SGAM (France) - Fondation d’Aide aux Entreprises (FAE)

Amount: CHF 18 million (€14.5 million)

Funding type: series C financing round

Planned used:

Proceeds from the round will be used for the clinical development of the lead compound GKT137831 for the treatment of diabetic nephropathy and to advance other preclinical programmes. GenKyoTex is developing first in class, small molecules that selectively inhibit the the nicotinamide adenine dinucleotide phosphate (NADPH) oxidase - the NOX family of enzymes.

Others:

GenKyoTex SA, the NOX enzyme specialist, has raised CHF18 million ($20.4 million) in a Series C round led by Edmond de Rothschild Investment Partners (EdRIP). New investors in the company include Vesalius Biocapital Partners and MP Healthcare Venture Management. Existing investors, Eclosion, SEFTI SGAM and Fondation d’Aide aux Entreprises (FAE) also participated in the financing. Simultaneously with the closing, GenKyoTex has appointed Ursula Ney, former COO at Antisoma and Director of Development at Celltech, as CEO. She is joined by new CMO, Philippe Wiesel, formerly a Medical Director for Serono in the US and Switzerland.
In combination with the financing, GenKyoTex has appointed new members to the board of directors. Ernest Loumaye CEO of PregLem is the new chairman of the board and is joined by Gilles Nobécourt of EDRIP and Stephan Verdood of Vesalius. Ursula Ney will join as executive director and Takahiro Mukahira of MP Healthcare Venture Management will participate as a board observer. Jesus Martin-Garcia of Eclosion, and Professor Karl-Heinz Krause of the Faculty of Medicine & University Hospitals of Geneva, a founder of the company, will remain on the board, and Eric Viaud of SEFTI SGAM will become an observer.

Therapeutic area: Cardiovascular diseases - Metabolic diseases - Respiratory diseases - Inflammatory diseases - Autoimmune diseases

Is general: Yes