Naarden, The Netherlands , November 7, 2023 - Forbion, a leading European life sciences venture capital firm, today announces that Kynexis B.V., a new biotech company poised to revolutionize the treatment of brain diseases, has exited stealth mode and has raised €57 million Series A financing. Forbion has led the financing together with two additional European investors, Ysios Capital and Sunstone. Partner Dmitrij Hristodorov will join the board of directors, supported by Associate Tim Lohoff, as board observer.
The company is built on two key concepts: best-in-class molecules and precision medicine. Kynexis' lead candidate, KYN-5356, a potent KAT-II inhibitor is designed to regulate kynurenic acid levels in the brains of patients with cognitive impairment, associated with schizophrenia (CIAS). The precision angle of the program relates to a genetic link of this mechanism with the disease, combined with a clinical patient selection strategy. Applying this precision medicine concept, the company is planning to expand its pipeline and indication scope beyond CIAS in the future.
“Starting new companies from scratch, in addition to financing our best selection of existing companies in Europe and North America, is core to Forbion’s strategy. Mitsubishi Tanabe has been a great business partner to Forbion, and we are excited to take their high-quality assets into further clinical development and drive value for patients and shareholders”, said Dmitrij Hristodorov, Partner at Forbion. Dr. Hristodorov added, “The Forbion network has been equally critical in sourcing this and in the case of Kynexis, our Operating Partner Dr. Peter Hongaard has vetted this investment opportunity and helped to build the business case. Peter is a very experienced scientist and drug developer, specifically in the area of brain diseases, and we are extremely happy to have him on the team.”
In addition to Dr. Peter Hongaard, who has joined the company as Executive Chairman, the company has assembled an accomplished leadership team with decades of experience in drug discovery and development for neurological indications, with Kees Been as Chief Executive Officer, and Dr. Jens Wendlandt as Chief Medical Officer
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Forbion Communications
Email: laura.asbjornsen@forbion.com
Head of Communications