Genkyotex, a Switzerland-based chronic disease treatment company, has raised CHF20m ($21m) in its series D round from a consortium including Swiss Federal Institute of Technology in Zürich-backed VI Partners.
VI partners was joined in investing for the first time in the round by Switzerland-based venture capital companies Neomed Management and BioMedInvest.
The round also saw reinvestment from venture capital companies Edmond de Rothschild Venture Capital and Swiss academic research commercialisation unit Eclosion2, and Luxembourg-based venture capital company Vesalius Biocapital Partners.
Genkyotex develops diabetic nephropathy drugs and NOX Inhibitors that will help with the treatment of chronic illnesses.
Ursula Ney, chief executive of Genkyotex, said: “This financing ensures we can continue independent development of our lead drug GKT137831 through phase II results and prepare for the next phase of trials. We are also now well positioned to advance other promising candidates into our NOX inhibitor pipeline.”
