Kinoxis Therapeutics Raises $6.75 Million to Advance Dementia Treatments

Main Sequence invested $5 million as a new investor, while existing shareholders also participated. Uniseed, UniSuper, Sydney Uni, Stoic VC, Avicella Capital and several sophisticated investors are among the company’s existing backers.

What is Kinoxis Therapeutics?

Kinoxis Therapeutics is an Australian clinical-stage biotechnology company developing small-molecule inhibitors of ALOX15 for central nervous system conditions.

The company is focused primarily on dementia-related agitation and pain. Its lead drug candidate, KNX100, is a rapid, short-acting ALOX15 inhibitor being tested in the CARES-X Phase 2 clinical trial for persistent and acute agitation associated with dementia.

Kinoxis is also developing KNX101, a longer-acting ALOX15 inhibitor designed for chronic agitation and aggression associated with dementia, as well as acute and chronic pain.

Funding Details

Kinoxis raised $6.75 million in equity financing, with $5 million coming from Main Sequence. The round also received continued support from existing shareholders.

Alongside the financing, Kinoxis secured a $2.5 million CUREator+ Dementia & Cognitive Decline grant. The program is funded by the Australian Government through the Medical Research Future Fund and delivered by Brandon BioCatalyst in partnership with ANDHealth and Dementia Australia.

The latest financing and grant bring $9.25 million in new funding to Kinoxis. The company previously raised $14.5 million in a Series B round in 2024 and $5 million in a Series A2 round in December 2020.

How Will Kinoxis Use the Funding?

The new funding will support Kinoxis’ clinical and drug development programs.

The company will continue advancing the CARES-X Phase 2 trial for KNX100, with topline results expected in mid-2027. The trial has passed 50% of its recruitment target and has expanded recruitment to hospital-based dementia wards and residential aged care facilities.

The $2.5 million CUREator+ grant will support the development of KNX101 for chronic agitation and aggression associated with dementia. Kinoxis plans to begin IND-enabling toxicology studies for KNX101 by the end of 2026.

Who Founded Kinoxis

Kinoxis Therapeutics is headquartered in Melbourne and was founded in 2017 as a spinout from the University of Sydney. The company was founded by Professor Michael Kassiou, Associate Professor Michael Bowen, and Hugh Alsop.

The company develops brain-penetrant small-molecule inhibitors targeting ALOX15, an enzyme associated with circuit dysregulation, neuroinflammation, and neurodegeneration.

Kinoxis’ pipeline includes KNX100 for acute and persistent agitation associated with dementia and KNX101, a longer-acting candidate being developed for dementia-related agitation and pain.

Main Sequence’s investment also brings Dr Elaine Stead to the Kinoxis Board. She is a venture capitalist, entrepreneur, and scientist who focuses on healthcare technologies at Main Sequence.

Market and Business Growth

Kinoxis is advancing its clinical-stage ALOX15 programs across dementia related agitation and pain. The company is expanding clinical trial recruitment for KNX100 while preparing the next stage of development for KNX101.

The company is also developing additional long-acting ALOX15 inhibitors and has identified alcohol use disorder as a potential future indication.

What Happens Next?

Kinoxis will continue the CARES-X Phase 2 clinical trial, with topline data expected in mid-2027. At the same time, the company plans to begin toxicology studies for KNX101 by the end of 2026 and continue developing its broader ALOX15 pipeline.

Kinoxis also plans to pursue strategic partnerships to support the development and commercialisation of treatments for brain-related conditions and pain.

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