Kinoxis Therapeutics Pty Ltd Secures $14.5M in Series B Funding for Novel Therapeutics Development

Kinoxis Therapeutics Pty Ltd, an innovative clinical-stage biotechnology company based in Australia, has successfully raised $14.5 million in funding to advance its pioneering research in the field of substance use disorders and neurological and psychiatric conditions. This substantial investment will propel the development of Kinoxis’ lead candidate, KNX100, which is engineered to mitigate the distressing symptoms of opioid withdrawal. With a novel, undisclosed mechanism of action, KNX100 has already completed its Phase I clinical study, demonstrating its potential in not just opioid dependence but also in preclinical settings for treating cocaine, methamphetamine, nicotine, and alcohol use disorders, as well as conditions marked by agitation and aggression. Kinoxis is uniquely positioned at the forefront of therapeutic innovation, having originated its compounds through an extensive medicinal chemistry and screening initiative at the esteemed University of Sydney. The funding comes from a collective group of sophisticated investors and the esteemed Uniseed, Australia’s premier venture fund, supplemented by a grant from the US National Institutes of Health’s National Institute on Drug Abuse. Additionally, Kinoxis is making headway with a second series of compounds targeting the oxytocin receptor, aimed at treating social dysfunctions pervasive in conditions like autism spectrum disorder, social anxiety disorder, schizophrenia, and Alzheimer’s disease. This infusion of capital underscores the urgent need for more effective interventions in psychiatric treatment, solidifying Kinoxis Therapeutics' commitment to transforming the landscape of mental health and substance use treatment.