Kinoxis snares $266 million for psychiatric drug

University of Sydney spin out company Kinoxis Therapeutics has turned R&D into novel therapeutics for social dysfunction and substance use disorders into a $266 million windfall.

The company has entered into a strategic partnership and licensing agreement with pharmaceutical company, Boehringer Ingelheim to develop novel treatments for psychiatric patients with social dysfunction symptoms.

Kinoxis’ lead candidate (KNX100) is being developed for the mitigation of opioid withdrawal symptoms and treatment of agitation and aggression in neurodegenerative and neurodevelopmental disorders.

Opidn deaths have become a major scorge in the United States and other countries following the over-use of powerful drugs such as oxycontin and fentanyl.

According to Kinoxis, KNX100 has a novel, undisclosed mechanism of action and is nearing Phase I clinical trials.

Mental health conditions are a major global health burden, affecting 1 in every 8 people with an economic impact larger than cancer and cardiovascular disease combined.

Social dysfunction is a major symptom of many neuropsychiatric disorders, including schizophrenia, depression, and dementia.

Originally developed at University of Sydney, Kinoxis’ proprietary oxytocin receptor-targeting molecules will be explored through the partnership, where we will take a precision-psychiatry approach to addressing the social dysfunction challenge.

The company will receive an upfront payment and R&D support up to $266 million as the product is further studied and developed.

Kinoxis said “This milestone would not have been made possible without the support of our longstanding investor, Uniseed which provided seed funding to establish Kinoxis to capture the potential of this technology.”

Image: Kinoxis Therapeutics