GenKyoTex, PsiOxus Raise VC Funding In Europe To Reach Phase II POC

09 Jul 2012

• By John Davis

GenKyoTex's first-in-class NOX inhibitors and PsiOxus's oncolytic viruses attract funding from European VCs to cross "death valley."

Switzerland's Genkyotex SA has raised $26 million and the U.K.'s PsiOxus Therapeutics Ltd. has raised $34 million in venture capital funding to advance their lead compounds through to the end of Phase II clinical studies, giving a glimmer of hope to other biotechs in Europe wanting to attract VC funding despite a tough financing environment in the region.

GenKyoTex SA has raised its CHF 25 million ($26 million) as an extension to a May 2011 Series C financing...