GenKyoTex raises CHF18m in funding
Will be used to move leading compound into clinical development
Switzerland-based GenKyoTex, a NOX enzyme specialist, has raised CHF18m (US$20.4m) in a Series C round led by Edmond de Rothschild Investment Partners. The firm says the investment will be used to move its leading compound GKT137831 into clinical development for the treatment of diabetic nephropathy and to progress other preclinical programmes.
GenKyoTex, located near Geneva, is developing inhibitors of NOX enzymes. These nicotinamide-adenine dinucleotide phosphate (NADPH) oxidases exist in seven forms and produce reactive oxygen species (ROS). ROS can cause tissue damage and modify biological pathways that may be important in metabolic, cardiovascular, pulmonary and neurological diseases. GKT137831 is the leading NOX1/4 inhibitor and will enter Phase I trials later this year.
GenKyoTex has also appointed Ursula Ney, former coo at Antisoma and director of development at Celltech, as chief executive. She is joined by new CMO, Philippe Wiesel, formerly a medical director for Serono in the US and Switzerland.
