Ysios co-founds a 'biotech' to treat effects of schizophrenia

To develop and commercialize a product for the treatment of cognitive impairment associated with schizophrenia. This is the objective with which Ysios Capital has co-founded, together with the Dutch Forbion, a new biotechnology company, Kynexis, which has raised 57 million euros in a first round of investment. The two co-founders and also Sunstone Life Science Ventures participated in this round, without detailing the amount invested by each company.

The headquarters of the new biotech is located in Naarden (Netherlands) and is focused on the development of this innovative treatment. The company will study it through the exclusive license agreement it has reached with Mitsubishi Tanabe Pharma Corporation to develop and commercialize this product worldwide. This product, technically called KYN-5356, consists of an inhibitor of an enzyme that allows treating cognitive impairment associated with schizophrenia. A therapeutic target that can alleviate symptoms of a disorder that affects some 24 million people.

Cognitive symptoms derived from schizophrenia include memory loss and difficulty concentrating, following instructions, remembering, and solving problems, among other elements. These symptoms affect 70% of patients with schizophrenia, and prevent them from leading their daily lives normally and limit their access to the labor market. Kynexis aims to combat these symptoms through precision therapies.

The board of directors of Kynexis has incorporated Ysios Capital partner Raúl Martín-Ruiz. The new board member believes that the company has the potential to "transform the paradigm of schizophrenia treatment by addressing cognitive impairment, an unmet, highly prevalent, and disabling medical need."

This investment in Kynexis is part of Ysios Capital's third fund, Ysios Capital BioFund III. The manager, with offices in Barcelona and San Sebastián, closed this investment fund in 2021 with an amount of 216 million euros. It did so with the purpose of supporting therapeutic innovation that responds to unresolved medical needs, such as cognitive impairment associated with schizophrenia.