University of Edinburgh spin-out raises venture capital
EDINBURGH-based life sciences firm Kynos Therapeutics has won multi-million pound backing as it looks to develop pioneering drugs to help tackle problems caused by inflammation.
The University of Edinburgh spin-out raised £6.5m equity investment in a round led by Epidarex Capital and IP Group and supported by Scottish Enterprise, which said Kynos is developing an innovative portfolio of first-in-class medicines.
The funding announcement noted: “Kynos’s pipeline is focused on three key areas: in critical illness post-surgery; in conditions driven by inflammation; and in cancers where inflammation is preventing the immune system from fighting back.”
The funding round reflects confidence in the potential of assets in the pipeline to tackle the conditions concerned by inhibiting the production of an enzyme called kynurenine 3-monooxygenase (KMO).
Elizabeth Roper, partner at Epidarex Capital, said: “Kynos has a first-in-class set of KMO inhibitors that we believe have potential in multiple therapeutic areas.”
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Kynos has also been awarded £2.5m grant support under the Innovate UK progarmme to fund what was described as a first-time in human Phase 1 clinical trial of its lead KMO inhibitor.
The company’s chief executive Damian Mole is Professor of Surgery at the University of Edinburgh Centre for Inflammation Research. Chief scientific officer Scott Webster is Professor of Medicines Discovery.
The announcement notes that the company’s pipeline of KMO inhibitors was originally co-developed through a collaboration between pharmaceutical giant GSK and the University of Edinburgh and is now exclusively licensed to Kynos.
Kerry Sharp, director of growth investments at Scottish Enterprise said: “Scotland is globally renowned for its strengths in life sciences because of our innovative companies, incredible talent and world-class universities.”
Epidarex has offices in Edinburgh and in Maryland in the USA. The firm has invested in a range of companies in Scotland. Its portfolio includes University of Glasgow spin out Clyde Bisosciences, which has developed a technology to evaluate toxicity risk in pharmaceuticals.
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