University of Sydney has spun out Kinoxis, which will develop a treatment for substance abuse disorders, with $3.9m in series A funding from a consortium led by Uniseed.
Australia-based addiction treatment developer Kinoxis Therapeutics was spun out from University of Sydney today with a $3.9m series A round led by multi-university venturing fund Uniseed.
Uniseed provided $750,000 and was joined in the round by unnamed family offices and angel investors.
Kinoxis is developing medication for substance abuse disorders, such as alcohol abuse or the misuse of prescription and prohibited drugs.
The spinout’s lead compound, SOC-1, attempts to simulate oxytocin, a neuropeptide produced naturally by the brain that has the ability to inhibit addictive behaviours in the brain. The approach could greatly expand the range of therapies for substance abuse.
Kinoxis is based on interdisciplinary research co-led by Michael Kassiou, a professor of medicinal chemistry in University of Sydney’s School of Chemistry, along with Ian McGregor, who directs psychopharmacology research in the School of Psychology.
Uniseed helps commercialise intellectual property from its limited partners – the universities of Melbourne,…
