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September 30, 2006
Kinex Closes Most Successful Round of Fund-Raising
Since its inception, approximately 2 years ago, Kinex Pharmaceuticals has raised approximately $4 million via Private Placements and Grants. The Company has used these funds to focus on the pre-clinical development of its lead oncology drug, KXO1. In addition, Kinex is also progressing a second series of compounds, derived from its platform technology Mimetica™, for the prevention of hearing loss. “We are very pleased that in this most recent round of fund-raising, many of our current investors have returned and we have also attracted additional investors that bring capital and pharmaceutical business expertise to our team”, said Dr. Allen Barnett, Chief Executive Officer of Kinex Pharmaceuticals.