Genkyotex raises $26M in Series C round extension

Monday, July 9, 2012 04:01 PM

Genkyotex, a Swiss developer of NOX inhibitors to treat oxygen-radical mediated diseases, has closed a $26 million extension to its Series C financing. Investors in the Series C round, including Eclosion, Edmond de Rothschild Investment Partners, Vesalius Biocapital Partners, MP Healthcare Venture, all participated in the financing extension.

Proceeds from the round will be used to advance clinical development of Genkyotex's lead compound, the NOX1/4 inhibitor GKT137831, through phase II development for the treatment of diabetic nephropathy 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.

"Since our last closing, Genkyotex has delivered on several important milestones, not least of which is producing initial first human data for our lead product GKT137831," said Ursula Ney, CEO of Genkyotex. "Meeting these milestones has ensured the continued support from our investors as illustrated by this large financing, which will fund the phase II in diabetic nephropathy, due to start towards the end of 2012."

Gilles Nobécourt, partner at Edmond de Rothschild Investment Partners, added, "With the start of clinical trials, Genkyotex has demonstrated its clear leadership position in the NOX field. We believe targeting NOX is very promising, with many potential therapeutic applications. Clinical evaluation of GKT137831 is the first step towards validating this entirely new class of therapeutic agents."

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

November 24

Tufts CSDD’s $2.6 billion price tag to develop and bring a new drug to market raises questions, criticisms

Medidata joins GlaxoSmithKline in study to evaluate the impact of wearing mobile devices in clinical trials

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

November

Private equity driving dynamic CRO growth
Enables CROs to pursue long-term strategies, while giving the space credibility

Baby boomers poised to reshape clinical trials industry
Millions of tech-savvy consumers already track their health, expect new treatments as they age

Already a subscriber?
Log in to your digital subscription.

Purchase the September issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

October

CROs driving changes in patient recruitment
Data- and tech-aided enrollment services a competitive advantage

Trials with in-home nurses poised to grow
Higher expense, but may improve recruitment and retention for select trials

Already a subscriber?
Log in to your digital subscription.

Purchase the October issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs