Genkyotex picks up extra CHF25M to advance diabetic nephropathy candidate
This article was originally published in Scrip
Armed with positive Phase I data of its lead NOX inhibitor program, Swiss biotech Genkyotex has picked up an additional CHF25 million ($26 million) from its existing investors to extend the amount raised in the Series C round to CHF43 million. Proceeds will be used to advance the company's lead compound GKT137831, a selective inhibitor of NOX-1 and NOX-4, through Phase II development to treat diabetic nephropathy.
You may also be interested in...
Cambridge, UK-based Healx has concluded a $56m series B round, led by Atomico, to put up to 50 potential rare disease treatments into the clinic within two years using its AI/ML platform.
Tapping into the ability of arenaviruses to deliver prolonged local immune activation, rapid regression of localized and metastatic cancers, and long-term disease control, Essen, Germany-based start-up Abalos Therapeutics has raised €12m to advance its lead candidates towards clinical testing.
Celgene agrees to pay $75m upfront for options to three Immatics TCR-T targets for solid tumors. Deal could be worth up to $1.59bn to the German biotech, which also retains option to co-develop and co-fund certain licensed products.