BioSpace.com

Biotech and Pharmaceutical
News & Jobs
Search the Site
 
   
Biotechnology and Pharmaceutical Channel Medical Device and Diagnostics Channel Clinical Research Channel BioSpace Collaborative    Job Seekers:  Register | Login          Employers:  Register | Login  

NEWSLETTERS
Free Newsletters
Archive
My Subscriptions

NEWS
News by Subject
News by Disease
News by Date
PLoS
Search News
Post Your News
JoVE

CAREER NETWORK
Job Seeker Login
Most Recent Jobs
Browse Biotech Jobs
Search Jobs
Post Resume
Career Fairs
Career Resources
For Employers

HOTBEDS
Regional News
US & Canada
  Biotech Bay
  Biotech Beach
  Genetown
  Pharm Country
  BioCapital
  BioMidwest
  Bio NC
  BioForest
  Southern Pharm
  BioCanada East
  US Device
Europe
Asia

DIVERSITY

INVESTOR
Market Summary
News
IPOs

PROFILES
Company Profiles

START UPS
Companies
Events

INTELLIGENCE
Research Store

INDUSTRY EVENTS
Biotech Events
Post an Event
RESOURCES
Real Estate
Business Opportunities

 News | News By Subject | News by Disease News By Date | Search News
eNewsletter Signup
Miles
Km80.5

   

GenKyoTex S.A. Raises $26 Million for Phase II Development of Diabetic Nephropathy Drug


7/9/2012 7:18:28 AM

GENEVA & ARCHAMPS, France, Jul 09, 2012 (BUSINESS WIRE) -- --Funding to Advance First in Class NOX Inhibitor GKT137831 through Phase II

Genkyotex, the leading developer of NOX inhibitors to treat oxygen-radical mediated diseases, announced today the closing of a CHF25 million (USD26 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," stated Ursula Ney, Chief Executive Officer 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."

"With the start of clinical trials, Genkyotex has demonstrated its clear leadership position in the NOX field," said Gilles Nobecourt, Partner at Edmond de Rothschild Investment Partners. "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."

"As the founding investor in Genkyotex, we were convinced of the great potential of the NOX inhibitor platform. This continued financial support will allow the Genkyotex team to move into Phase II and help deliver on the early promise," stated Jesus Martin-Garcia, Founder and General Partner at Eclosion.

Expansion of Management Team

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.

About Genkyotex

Genkyotex is developing first in class, small molecule therapeutics that specifically and selectively inhibit the NOX family of enzymes. Using a unique screening platform, Genkyotex has identified novel NOX inhibitors with the potential to treat disease areas with a high clinical need and large market potential. Genkyotex was founded in 2006 by scientists from Switzerland, the USA and Japan, with backing from Geneva incubator Eclosion. The Series C investment was led by Edmond de Rothschild Investment Partners and included Vesalius BioCapital and MP Healthcare Venture Management. Further information can be found at: www.genkyotex.com .

SOURCE: Genkyotex




   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES