Euronext-listed Genticel and a privately-held Swiss GenKyoTex biopharmaceutical companies, have come together to become Genkyotex, a listed Franco-Swiss company whose focus will be develping a a pipeline of NOX inhibitors, a new therapeutic class in fibrosis and inflammatory pain.
Elias Papatheodorou is the company’s new chief executive officer (CEO) while Benedikt Timmerman, former Chairman of the Management Board, is Deputy CEO responsible for overseeing the existing partnership with Serum Institute of India Private Ltd (Serum Institute).
Genticel’s shareholders will become shareholders of Genkyotex, the parent company of a group in a new class of first-in-class drugs that will create long-term value.
Genkyotex is the new company, ex Genticel, while GenKyoTex SA, which, following the contribution transaction, is now a Swiss subsidiary of Genkyotex, will become “GenKyoTex Suisse SA” as soon as it is filed within the Geneva commercial register, which is expected in early March 2017.
Elias Papatheodorou, the CEO, said: “The substantial support given to this strategic transaction delights and compels us. It will allow us to resolutely pursue the development of our unique therapeutic approach, which is based on the selective inhibition of NOX enzymes. Following this operation, our strengthened cash position will enable us to advance quickly out the clinical development of our pipeline of NOX enzyme inhibitors that can become the first representatives of this new therapeutic class. Our lead product candidate, GKT831, a NOX1 and NOX4 inhibitor for fibrotic diseases, is expected to enter a phase II clinical trial in primary biliary cholangitis (PBC, an orphan fibrotic disease) during H1 of 2017. Our second product candidate, GKT771, a NOX1 inhibitor targeting multiple pathways in angiogenesis, pain processing and inflammation, should enter a phase I clinical study during the second half of this year.”
The CEO also said that the company’s recent strategic operation with Genticel represents a major milestone for Genkyotex, enabling it to become a large listed group with a reinforced financial structure. “This consolidated cash position will allow us to undertake our clinical trial with GKT831, enter early clinical development with our second product candidate, GKT771, and continue our discovery activities in other therapeutic fields,” said Papatheodorou. Moreover, the licensing agreement signed between Genticel and Serum Institute of India Ltd. in 2015 could generate substantial additional revenue over the longer term, the CEO said.