Kinex Pharmaceuticals, a Buffalo, New York, USA-based developer of drugs for oncology and immune-modulatory diseases, has closed the first tranche of undisclosed amount of its latest round of equity financing.
Backers include Pharminex LLC and other accredited investors.
The funds will be used to advance the company’s multiple clinical development programs.
Led by President Emeritus Dr. Allen Barnett, Kinex Pharmaceuticals develops novel drugs for oncology and immune-modulatory diseases using its proprietary technologies Mimetica™ and Opal™. Though a licensing and collaborative agreement, the company is also developing products based on the Orascovery technology platform initially developed by Hanmi Pharmaceuticals.
FinSMEs
22/10/2012