Kynexis, a Dutch biotech, has raised €97 million ($113 million) to advance a drug aimed at one of psychiatry’s most stubborn problems: the cognitive symptoms of schizophrenia.
The extended Series A will fund KYN-5356, a KAT-II (kynurenine aminotransferase II) inhibitor designed to restore balance in brain receptors involved in learning, memory and executive function. The target is cognitive impairment associated with schizophrenia (CIAS) — distinct from the hallucinations and delusions that existing antipsychotics address.
Where the drug stands
KYN-5356 is in a Phase 2 proof-of-concept trial enrolling about 150 adults across 13 US sites, with topline results expected by the end of 2026 and a registrational trial planned. The round was backed by Novartis’s venture arm and Forbion. Funds will also support closing out the Phase 2 study, preparing for the next trial, and exploring the drug in other cognitive disorders, including Alzheimer’s.
Why it matters
Cognitive impairment affects an estimated 80% of people with schizophrenia and is a major driver of disability, yet no therapy is specifically approved for it. It has also been a graveyard for drug developers, with many past failures — making both the funding and the upcoming readout worth watching.