Dutch-US biotech raises $61M to test ex-Mitsubishi Tanabe drug for schizophrenia
07 Nov 2023
Multiple biotech companies have made noise in schizophrenia R&D this year, with a landmark drug approval request and several large financings, and on Tuesday morning another startup entered the spotlight.
Kynexis took the wraps off a €57 million (about $61 million) Series A to tackle the cognitive impairments associated with the puzzling brain disorder.
The Naarden, Netherlands-based startup plans to start testing an oral small molecule licensed from Mitsubishi Tanabe early next year, Kynexis CEO Kees Been told
Endpoints News
. Forbion and Ysios Capital created Kynexis, which then in-licensed the asset, a KAT-II inhibitor with the codename KYN-5356, from Mitsubishi Tanabe with a “nominal” upfront, Been said.
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