Skip to main content
| News

Kinarus secures capital commitment of 57 million Swiss francs

13.09.2021

The biopharmaceutical company Kinarus has signed a capital commitment of up to 57 million Swiss francs with the investment group GEM. This should support the phase II trial for Kinarus’ clinical drug candidate to treat a retinal disease.

Kinarus can fund the phase 2 trial for its clinical drug candidate KIN001 for the treatment of wet macular degeneration with up to 57 million Swiss francs. The biopharmaceutical company headquartered at the Technologiepark Basel has received a corresponding capital commitment from the investment group Global Emerging Markets (GEM). It has a term of 36 months. According to a press release from the company, Kinarus can draw the funds at any time and “within certain limits” during this period. The self-styled “alternative” investment group is based in Luxembourg. It has branches in New York, Paris and the Bahamas.

First, the reverse takeover by Perfect Holding based in Lausanne in the canton of Vaud announced in mid-August is planned to be concluded. Since the sale of its subsidiary Oxygen Aviation in April 2020, Perfect Holding is now just a shell but it is listed on the SIX Swiss Exchange. A reverse takeover can make private companies into listed companies without having to undergo flotation. According to the press release, Kinarus is expected to be listed this year subject to approval of the shareholders and conclusion of the series B financing round.

According to the CEO of Kinarus, Alexander Bausch, this additional capital will help to “broaden the clinical phase 2 portfolio of KIN001 in additional indications of high medical need.” The company further states that it has several patents covering the use of KIN001 in numerous indications. In April, Kinarus started the phase 2 trial KINETIC with KIN001, in which patients hospitalized with COVID-19 are now being treated with KIN001.

Share this article

Sign up to receive our newsletter in your inbox.

You may also be interested in

Basel Area Business & Innovation, Innovation, Invest, Life Sciences / biotech, Switzerland Innovation Park

South Korean pharma firms show interest in the Basel Area

Several South Korean firms from the life sciences industry, including three pharmaceutical multinationals, have visited the Basel Area on fact-finding...

Read More
Gamma Technologies acquires ProFEMAG portfolio
Advanced Manufacturing/AI, Basel Area Business & Innovation, ICT, Innovation, Invest

Gamma Technologies acquires ProFEMAG portfolio

The Basel-based firm ProFEMAG AG has sold its FEMAG software for electrical machine applications to Gamma Technologies. The company based...

Read More
Basel Area Business & Innovation, ICT, Innovation, Invest, Life Sciences / biotech

Databaum establishes headquarters in Basel

Databaum is establishing its headquarters in Basel and plans to grow from its location there. The startup provides the agricultural...

Read More
Clinerion launches patient information platform
Basel Area Business & Innovation, Digital Health, ICT, Innovation, Invest, Life Sciences / biotech

Clinerion launches patient information platform

Basel-based Clinerion is introducing its machine learning platform. It comprises a global network of hospitals and enables researchers to recognize...

Read More
Basel Area Business & Innovation, Innovation, Invest, Life Sciences / biotech, Switzerland Innovation Park

New innovation campus opens in the Basel Area

The Main Campus of the Switzerland Innovation Park Basel Area was officially opened on October 29. In his speech, Federal...

Read More
Sumitovant acquires all shares in Myovant
Basel Area Business & Innovation, Innovation, Invest, Life Sciences / biotech

Sumitovant acquires all shares in Myovant

Sumitovant is in the process of making Basel-based Myovant Sciences a wholly owned subsidiary by acquiring a 100 percent shareholding...

Read More
1 2 3 59

Do you have a question? We'd like to hear from you.