GenSight Biologics S.A., a Paris, France-based clinical-stage biotechnology company, completed a $36m Series B financing.
Backers included new investors Fidelity Management & Research Company, Jennison Associates (on behalf of certain clients), Sphera Global HealthCare Fund, Perceptive Advisors and HealthCap and existing Series A investors.
The company intends to use the funds to advance product pipeline and support further clinical development of its lead product candidate, GS010, which targets Leber’s Hereditary Optic Neuropathy (LHON) through a gene therapy-based approach combined with a proprietary mitochondrial targeting sequence technology.
GenSight Biologics 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. Its 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. Its lead product, GS010, is to enter a pivotal Phase III (in the fourth quarter of 2015) trial for vision loss in Leber’s Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible sight loss in teens and young adults.
Leerink Partners LLC acted as the exclusive placement agent for the financing.