The decision is based on a thorough review of various strategic alternatives against the background of the recent financial situation, including the payment requirement of approximately SEK 5 million that Cyxone received from Asperion Sociedade Unipessoal Lda, represented by LEISK AB in Stockholm.

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Four months after XNK Therapeutics, located in Huddinge, Sweden, declared bankruptcy, the clinical-stage biotechnology company’s building and physical assets were sold and the lease agreement transferred to BioLamina. 


Cyxone regrets that the company is unable to continue to pursue its two development projects due to a lack of funding, it states. “Both Rabeximod and T20K have great potential to develop into new, leading treatments for the respective indication; Rabeximod for rheumatoid arthritis (RA) and T20K for multiple sclerosis (MS),” it states.