Minoryx Therapeutics, a Mataró, Barcelona, Spain-based drug development company specialized in the discovery of new drugs for orphan diseases, completed a €19.4M ($22.1M) Series A funding round.
The round was led by Ysios Capital, with participation from new investors Kurma Partners, Roche Venture Fund, Idinvest Partners and Chiesi Ventures and existing investors Caixa Capital Risc and HealthEquity. In conjunction with the funding, Laia Crespo from Ysios Capital, Thierry Laugel from Kurma Partners and Monique Schiersing from Roche Venture Fund joined Minoryx’ board.
The company intends to use the funds to complete the team, especially in R&D, to move lead project MIN-102 to clinical validation in X-ALD, a rare neurodegenerative and life-threatening disease, and to further develop a pipeline of non-competitive pharmacological chaperones identified through its innovative proprietary platform, SEE-Tx.
Led by Marc Martinell, CEO and co-founder, Minoryx Therapeutics is advancing a differentiated PPAR gamma agonist (MIN-102) program that has multiple CNS indications. The company is now leveraging its mechanism of action for potential use in X-ALD, a genetic disease characterized by progressive neurologic deterioration with no available pharmacological treatment. It is also working on a new class of compounds: non-competitive pharmacological chaperones, identified through its innovative proprietary platform – SEE-Tx.