Strekin

About Strekin

Strekin AG is a clinical-stage biopharmaceutical company headquartered in Basel, Switzerland, that was founded in 2014 by Roger Meier and Alexander Bausch. The company focuses on developing therapeutics for diseases with significant unmet medical needs, particularly in the area of hearing loss. Strekin operates by repurposing existing drugs for new applications, a strategy that can potentially streamline the development process.

The company's primary drug candidate is STR001, which has been investigated for the treatment of Sudden Sensorineural Hearing Loss (SSNHL). Preclinical studies suggested that STR001 could protect hearing by mitigating oxidative stress and inflammation in the cochlea. The drug advanced to a Phase 3 clinical trial, known as the RESTORE study, an international, randomized, placebo-controlled trial to evaluate its efficacy when administered via intratympanic injection. STR001 has been granted orphan drug status for SSNHL in Europe, which could facilitate a quicker market launch if approved.

Strekin's business model is centered on the successful clinical development and subsequent commercialization of its drug candidates. The company is privately funded and has successfully raised capital to advance its clinical programs. Strekin has conducted two Series A funding rounds, raising a total of $13.1 million. The first round on May 31, 2017, brought in $10.2 million, and a subsequent round on September 3, 2019, secured an additional $2.85 million to finalize the RESTORE trial and prepare for European regulatory filings.