GenKyoTex raises CHF 18 million in a Series C Venture Financing to develop NOX enzyme inhibitors
(Thomson Reuters ONE) -
GenKyoTex S.A. /
GenKyoTex raises CHF 18 million in a Series C Venture Financing to develop NOX
enzyme inhibitors
. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
Appoints New Management Team & Board
Geneva, Switzerland & Archamps, France, May 24, 2011 - GenKyoTex SA, the NOX
enzyme specialist, announced today it has raised CHF18 million (US$20.4 million)
in a Series C round led by Edmond de Rothschild Investment Partners (EdRIP). New
investors in the company include Vesalius Biocapital Partners and MP Healthcare
Venture Management. Existing investors, Eclosion, SEFTI SGAM and Fondation
d'Aide aux Entreprises (FAE) also participated in the financing. Proceeds from
the round will be used for the clinical development of the lead compound
GKT137831 for the treatment of diabetic nephropathy and to advance other
preclinical programmes.
GenKyoTex is developing first in class, small molecules that selectively inhibit
the family of NOX enzymes. Nicotinamide-adenine dinucleotide phosphate (NADPH)
oxidases - the NOX enzymes - exist in seven forms and produce reactive oxygen
species (ROS). ROS can cause tissue damage and modify biological pathways that
may be important in a number of pathologies including metabolic, cardiovascular,
pulmonary and neurological diseases. GKT137831 is the leading NOX1/4 inhibitor
and will enter Phase I trials later this year.
Simultaneously with the closing, GenKyoTex has appointed Ursula Ney, former COO
at Antisoma and Director of Development at Celltech, as CEO. ''This is an
exciting and critical time for GenKyoTex with the first compound ready to enter
the clinic and the funding to support the development of these novel, first in
class NOX inhibitors," she said. "I am looking forward to working with the team
to fully explore the broad therapeutic potential of this approach.'' She is
joined by new CMO, Philippe Wiesel, formerly a Medical Director for Serono in
the US and Switzerland.
"This is an investment in a very promising pathway, where GenKyoTex is clearly
positioned as a leader. We feel confident the new management team has all the
expertise, knowledge and experience to take the company through the next stage
of development and beyond," said Gilles Nobécourt, Partner of EdRIP. "This new
field of NOX enzyme inhibition has great therapeutic and market potential in
many difficult to treat diseases caused by the effects of ROS".
In combination with the financing, GenKyoTex has appointed new members to the
board of directors. Ernest Loumaye CEO of PregLem is the new chairman of the
board and is joined by Gilles Nobécourt of EDRIP and Stephan Verdood of
Vesalius. Ursula Ney will join as executive director and Takahiro Mukahira of MP
Healthcare Venture Management will participate as a board observer.
Jesus Martin-Garcia of Eclosion, and Professor Karl-Heinz Krause of the Faculty
of Medicine & University Hospitals of Geneva, a founder of the company, will
remain on the board, and Eric Viaud of SEFTI SGAM will become an observer. Jesus
Martin-Garcia said ''I am delighted to see the potential of GenKyoTex's science
and products supported by this new investment and look forward to working with
our new Board members.''
About GenKyoTex
GenKyoTex, was founded in 2006 by scientists from Switzerland, the USA and Japan
following an academic collaboration to study Nicotinamide-adenine dinucleotide
phosphate (NADPH) oxidases, also called NOX enzymes, and their effects on
reactive oxygen species (ROS) production. Five isoforms of NOX have been
identified (NOX1-5) and two analogues (DUOX 1 and 2). Today, GenKyoTex, with a
headcount of 14, has developed a unique screening platform to identify
selective, first in class, novel NOX inhibitors with the potential to treat
disease areas with a high clinical need and large market potential. These
include diabetes, cardiovascular, neurodegenerative and pulmonary diseases. The
lead compound, GKT137831 is a selective NOX1/4 inhibitor that will enter Phase
1 trials later in 2011 and is targeted for the treatment of diabetic
nephropathy. For further information please visit our
Website:www.genkyotex.com.
For further information:
Dr. Ursula Ney Gilles Nobécourt
CEO of GenKyoTex Partner of EdRIP
Tel: +41 22 880 1025 Tel: +33-1-4017-2541
Email:ursula.ney(at)genkyotex.com Email:gilles.nobecourt(at)lcfr.fr
Raimund Gabriel
MC Services
Tel: +49 89 2102 280
Email:raimund.gabriel(at)mc-services.eu
--- End of Message ---
GenKyoTex S.A.
16; Chemin des Aulx Geneva Switzerland
Press release (PDF):
http://hugin.info/147801/R/1518102/454621.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: GenKyoTex S.A. via Thomson Reuters ONE
[HUG#1518102]
Unternehmensinformation / Kurzprofil:
Datum: 24.05.2011 - 08:00 Uhr
Sprache: Deutsch
News-ID 54921
Anzahl Zeichen: 5961
contact information:
Town:
Geneva
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 262 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"GenKyoTex raises CHF 18 million in a Series C Venture Financing to develop NOX enzyme inhibitors"
steht unter der journalistisch-redaktionellen Verantwortung von
GenKyoTex S.A. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
