Clinical stage biotech company, Minoryx Therapeutics, has revealed it is spinning off its Site-directed Enzyme Enhancement Therapy (SEE-Tx) platform into a new company, Gain Therapeutics, that will focus on using this platform to identify the next generation of non-competitive pharmacological chaperones.
Plan
This new spin-off is part of the business strategy of Minoryx, which will enable it to concentrate its efforts on its clinical candidate MIN-102. It will be headquartered in Lugano, Switzerland with a branch in Barcelona, Spain, and has received funding from private Swiss investors and the TiVenture fund.
“This deal validates the SEE-Tx platform and its great potential for identifying a new generation of pharmacological chaperones with improved properties,” commented Dr Marc Martinell, co-founder and CEO of Minoryx Therapeutics. “It will also allow Minoryx to focus on its clinical candidate, MIN-102, which is now in phase II/III clinical trials for the treatment of X-linked adrenoleukodystrophy and in preclinical development for other orphan CNS diseases.”
“We are delighted to build on the excellent work done by Minoryx’s team. Using the SEE-Tx platform, it has already identified molecules that have the potential to become novel therapies for the treatment of several devastating rare diseases,” added Dr Lorenzo Leoni, managing partner of TiVenture and ad-interim CEO of Gain Therapeutics. “We will invest in the further development of these molecules that should lead to the identification of clinical candidates in at least two independent programs. We are also happy to strengthen the cooperation between Barcelona and southern Switzerland, two regions with high innovation potential in the biomedical field.”