Strekin AG, a Basel, Switzerland-based life sciences startup, raised CHF10m in funding.
Backers included unnamed private investors.
The company intends to use the funds to conduct an international second clinical trial on STR001 as a potential new treatment for acute types of hearing loss.
Co-founded in 2014 by Dr. Alexander Bausch, Prof. Dr. Daniel Bodmer, and Mr. Roger Meier, Strekin is a clinical-stage biopharmaceutical company focused on hearing loss. Its STR001 is a PPARγ agonist (peroxisome-proliferator-activated gamma receptor), which protects ciliated ear cells from the inner ear through multiple mechanisms. The therapeutic properties of STR001 have been extensively investigated in different preclinical models of hearing loss and protection of cochlear hair cells.