Date: 2012-07-09
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)
Amount: CHF25 million ($26 million - €20.8 million)
Funding type: series C financing round
Planned used: Proceeds from the round will be used for the clinical development of the NOX1/4 inhibitor GKT137831 for the treatment of diabetic nephropathy and to advance other preclinical programmes. and to progress pipeline molecules targeting different diseases. Results from initial single-dose Phase Ia studies suggest that GKT137831 is safe and well tolerated. The ongoing multi-dose Phase Ib study is expected to finish later this quarter and a Phase II study in diabetic nephropathy is due to start towards the end of 2012.
Others: Genkyotex, a company developing first in class, small molecules that selectively inhibit the the nicotinamide adenine dinucleotide phosphate (NADPH) oxidase - the NOX family of enzymes, has announced the closing of a CHF25 million ($26 million - €20.8 million) extension to its Series C financing. Investors in the Series C round, all participated in the financing extension.
Concurrent with the financing, Genkyotex has appointed Eric Meldrum, PhD, as Chief Scientific Officer. Eric joins Genkyotex with over 18 years of experience working in large pharmaceutical companies and biotech, specializing in discovery and preclinical drug development. In addition, Alexandre Grassin has joined Genkyotex as finance director. Alexandre previously held positions in finance with Novartis and Alexion.
Therapeutic area:
