Genkyotex, a Geneva, Switzerland-based developer of NOX inhibitors to treat oxygen-radical mediated diseases, has closed a CHF25m ($26m) extension to its Series C financing.
Existing investors including Eclosion, Edmond de Rothschild Investment Partners, Vesalius Biocapital Partners, MP Healthcare Venture all participated in this extension.
Founded in 2006 and led by CEO Ursula Ney, Genkyotex uses a screening platform to develop small molecule therapeutics that specifically and selectively inhibit the NOX family of enzymes.
The company intends to use the funding to advance clinical development of its 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.
In addition to the financing, Genkyotex has appointed Eric Meldrum, PhD, as Chief Scientific Officer. Alexandre Grassin has joined as finance director.