Genenta Science, a Milan, Italy-based biotech startup, closed its €10m ($11m) Series A financing.
The round was led by Banca Esperia, the private bank of Mediobanca (MB:IM) and Mediolanum (MED:IM), with participation from entrepreneurs, managers, HNWI, and family offices.
The company, had announced the €6.2m first close of the funding some weeks ago (read here), intends to use the funds to complete pre-clinical studies and to advance in the preparation of the clinical phase for its therapeutic protocols to treat tumors.
Founded by CEO Pierluigi Paracchi, Luigi Naldini, Bernhard Gentner and San Raffaele Hospital, Genenta develops a gene transfer strategy into autologous hematopoietic stem cells (HSCs) to target interferon-α expression to tumor-infiltrating monocytes/macrophages. Interferon is a protein usually produced by the body in response to infections that also exhibits an anti-tumor activity.
An HIV-derived and genetically disabled viral vector – Lentivirus – delivers the gene into the HSCs.