GenKyoTex, a Switzerland-based biotechnology company to treat diabetes, has raised SFr18m ($20m) in its series C round from a consortium including as a new investor MP Healthcare Venture Management, a US-based life sciences venture capital firm affiliated with Japan’s Mitsubishi Tanabe Pharma Corporation (MTPC) and Mitsubishi Chemical Holdings Corporation (MCHC).
Venture capital firm Edmond de Rothschild Investment Partners (EdRIP) led the C round, which also included peers Vesalius Biocapital Partners and SEFTI (Specialized European Fund for Therapeutic Innovation) and incubator Eclosion.
Ursula Ney, former chief operating officer at Antisoma and director of development at Celltech, has also joined GenKyoTex as chief executive.
She is joined by Philippe Wiesel, formerly a medical director for Serono in the US and Switzerland, as GenKyoTex’s chief medical officer.
Takahiro Mukahira of MP Healthcare Venture Management will be a board observer and he said it was the group’s second Swiss deal.