Strekin AG, a Basel, Switzerland-based clinical stage biopharmaceutical company, closed a CHF2.82M Series A financing.
Backers included new and existing investors.
The company intends to use the funds to conclude its ongoing Phase 3 clinical trial of STR001 in Sudden Sensorineural Hearing Loss, the RESTORE trial, and to prepare for a European filing.
Led by Alexander Bausch, Chief Executive Office and founder, Strekin is a biopharmaceutical company advancing therapeutics for improved patient benefit in diseases with high unmet need.
STR001 is Strekin’s lead drug candidate. The company says that preclinical data demonstrated that STR001 effectively protects hearing in animal models by blocking oxidative stress and reducing activation of inflammatory signaling in the cochlea.