Naarden, The Netherlands, August 19, 2026
Kynexis, a clinical-stage biotechnology company developing therapies for cognitive disorders, has raised an additional €40 million in a Series A extension, bringing its total Series A financing to €97 million ($110 million). The financing, led by Novartis Venture Fund with participation from existing investors Forbion, Ysios Capital and Sunstone Life Science Ventures, is designed to support the continued development of KYN-5356, an investigational potential first-in-class KAT-II inhibitor being developed for cognitive impairment associated with schizophrenia (CIAS). The company has completed enrollment in its ongoing Phase 2 proof-of-concept study and remains on track to report topline results by the end of 2026.
Financing Supports Phase 2 Completion and Registrational Planning
The new funding gives Kynexis additional resources to complete Phase 2 activities for KYN-5356 and prepare for potential registrational clinical development in CIAS. The company also plans to use the financing to advance its broader strategy in cognitive disorders, including potential future development in Alzheimer’s disease. The investment brings Novartis Venture Fund into Kynexis’ existing investor group, while Marianne Uteng joins the Kynexis Board of Directors and Mathias Frederiksen becomes a Board Observer. Kynexis has also expanded its business development capabilities through the appointment of Neil Swami as Chief Business Officer and the addition of John McDonald as an advisor, strengthening the company’s focus on future corporate development and strategic opportunities.
KYN-5356 Advances Through Phase 2 CIAS Development
KYN-5356 is an investigational oral small-molecule KAT-II inhibitor and represents Kynexis’ lead clinical program in cognitive impairment associated with schizophrenia. KAT-II is involved in the production of kynurenic acid (KYNA) in the brain, while elevated KYNA is believed to interfere with signaling pathways associated with learning, memory and executive function. Kynexis is developing KYN-5356 with the aim of reducing KYNA and potentially restoring signaling relevant to cognitive function. The randomized, double-blind, placebo-controlled Phase 2 trial has enrolled approximately 150 adults with CIAS across 13 U.S. clinical sites. The 28-day study is evaluating efficacy, safety, pharmacokinetics and pharmacodynamics of KYN-5356 as an adjunctive treatment. The program follows Phase 1 findings in healthy volunteers that showed a favorable safety and tolerability profile, CNS penetration and dose-dependent reductions in cerebrospinal fluid KYNA.
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Kynexis Targets Broader Cognitive Disorder Opportunity
The completion of Phase 2 enrollment represents an important development milestone for Kynexis’ cognitive medicine pipeline, with the company now focused on completing the study and preparing for potential registrational development. Topline Phase 2 results are expected by the end of 2026, providing an upcoming clinical catalyst for the KYN-5356 program. Beyond CIAS, Kynexis intends to explore the potential of KAT-II inhibition across additional neurological and neurodegenerative conditions, including Alzheimer’s disease. The €97 million Series A financing provides capital to support these development activities while the company works toward establishing KYN-5356 as a potential new therapeutic approach for cognitive dysfunction.
Source:Kynexis press relese
