Ysios Capital, a member of CataloniaBio & HealthTech, has announced its participation in the financing round of the company Kynexis (Naarden, Netherlands) for a total amount of 57 million euros. The company, co-founded by Ysios Capital and Forbion, has an exclusive license agreement with Mitsubishi Tanabe Pharma Corporation to develop and market the product KYN5356 worldwide.
This capital increase will allow Kynexis to advance the development of KYN5356, an innovative inhibitor of an identified enzyme, for the treatment of cognitive impairment associated with schizophrenia to a clinical proof of concept. It will use a precision medicine approach based on a combination of genetic data, biomarkers, and patient phenotyping.
Ysios Capital and Forbion have led the negotiation of the licensing agreement with Mitsubishi Tanabe Pharma Corporation, the creation of the company and the configuration of a specialised and highly qualified management team to advance the development of this promising product.
Raúl Martín Ruiz, Partner at Ysios Capital, comments: "Kynexis has the potential to transform the schizophrenia treatment paradigm in addressing cognitive impairment, an unmet medical need that is highly prevalent and disabling. The strength of the scientific data supporting its approach, together with the experienced management team, is undoubtedly the key to unlocking the potential of its precision medicine-based approach.” He adds, "we are very proud to have participated in the creation of the company and in the configuration of a first-class international management team. This investment reflects our commitment to biomedical innovation and the search for solutions that have a real impact on patients and society.”
The therapeutic target of Kynexis, a kynurenine enzyme that plays an essential role in cognitive function and in the physiopathology of schizophrenia. Its modulation has the potential to treat cognitive deterioration in affected patients and significantly improve their quality of life.
In the context of this operation, Raúl Martín Ruiz, Partner of Ysios Capital, joins the Board of Directors of Kynexis.
Photo: Raúl Martín Ruiz, Partner of Ysios Capital
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