Healthcare Industry News: neurodegenerative
News Release - July 23, 2015
GenSight Biologics Closes $36 Million Series B Preferred Stock FinancingPARIS--(Healthcare Sales & Marketing Network)--GenSight Biologics S.A. (GenSight), a clinical-stage biotechnology company discovering and developing novel therapies for mitochondrial and neurodegenerative diseases of the eye, and in the future, of the central nervous system, announced that it has completed a Series B preferred stock financing of approximately $36 million.
New investors included Fidelity Management & Research Company, Jennison Associates (on behalf of certain clients), Sphera Global HealthCare Fund, Perceptive Advisors and HealthCap. Existing Series A investors also participated in the round.
Proceeds from the financing will be used to advance GenSightís product pipeline and notably to support further clinical development of its lead product candidate, GS010, which targets Leberís Hereditary Optic Neuropathy (LHON) through a gene therapy-based approach combined with a proprietary mitochondrial targeting sequence technology. GS010 has received orphan drug designation for the treatment of LHON in the United States and the European Union. GenSight has successfully completed its Phase I/II clinical trial of GS010 and expects to begin pivotal Phase III clinical trials in LHON in the fourth quarter of 2015.
Leerink Partners LLC acted as the exclusive placement agent for the financing.
About GenSight Biologics
GenSight Biologics S.A. (GenSight) is a clinical-stage biotechnology company discovering and developing novel therapies for mitochondrial and neurodegenerative diseases of the eye, and in the future, of the central nervous system. GenSightís integrated development includes two core technology platforms, mitochondrial targeting sequence (MTS) and optogenetics, to help preserve or restore vision in patients with severe retinal diseases. GenSightís lead product, GS010, is poised to enter a pivotal Phase III trial for vision loss in Leberís Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible sight loss in teens and young adults. Using its gene therapy-based approach, GenSightís product candidates are designed to be administered in a single treatment to each eye by intravitreal or subretinal injection in order to provide patients with a long-lasting functional cure, potentially for the rest of their lives.
Source: GenSight Biologics
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