Genkyotex picks up extra CHF25M to advance diabetic nephropathy candidate
This article was originally published in Scrip
Executive Summary
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.