NXI Therapeutics extends pre-seed financing to CHF 3.5 million

NXI Therapeutics, a spin-off from the Biozentrum at University of Basel, is committed to creating tomorrow’s disruptive immunotherapies through modulation of coronin 1 in immune cells. Coronin 1 depletion in preclinical models allows long-term acceptance of genetically unrelated organ transplants, prevents Graft versus Host Disease (GvHD), protects from several autoimmune disorders and at the same time allows to maintain a normal life span without infections and emergence of cancer, a frequent complication of contemporary immunosuppressants. Thus, modulating the coronin 1 pathway holds great potential for more effective and safer treatments for autoimmune diseases, as well as for transplantation medicine. NXI Therapeutics focuses on clinical applications in T cell-mediated autoimmune conditions.

The company has now announced the extension of a pre-Seed financing totalling to 3.5 million CHF. This financing extension comes in the run-up to a larger Seed financing that the company is currently raising. Kickfund joins a group of investors including lead investor JFG Life Sciences Foundation, BaseLaunch and Venture Kick. NXI has also been supported by an InnoBooster grant from the Gebert Rüf Foundation and a Propelling grant from the University of Basel.

Further, Patrick Burgermeister, CEO of the JFG Life Sciences Foundation, will join the company’s Board of Directors. He has a highly relevant background with prior positions in venture capital (BioMedPartners), pharma (Novartis) and banking (Zürcher Kantonalbank). He holds Master’s degrees in Molecular Biology from the University of Basel and in Business Administration from the University of St. Gallen (HSG).

(Press release / SK)