Genenta Science, a Milan, Italy-based biotech company committed to the development and commercialization of a hematopoietic stem cell gene therapy for tumors treatment, closed an $8M (€7M) Series B financing.
The round, which brings the total amount raised in the Series A and Series B rounds to $20.4M (€17M), was led by Italian, British, and Swiss private investors, family offices, and business angels, Series A investors and board members. In conjunction with the funding, Guido Guidi, M.D., was appointed as a Board Member while Prof. Kenneth C. Anderson joined the Scientific Advisory Board.
The company intends to use the funds to advance its gene therapy and open a second tumor indication in addition to multiple myeloma.
Co-founded by CEO Pierluigi Paracchi, Prof. Luigi Naldini (Director SR-TIGET San Raffaele Telethon Institute for Gene Therapy) and Bernhard Gentner, Genenta develops a gene transfer strategy into autologous hematopoietic stem cells (HSCs) to target specific antitumor proteins to tumor-infiltrating monocytes/macrophages. An HIV-derived and genetically disabled viral vector, Lentivirus delivers the gene into the HSCs.
The company recently joined the Alexandria LaunchLabs®, the New York City’s premier startup platform located at the Alexandria Center for Life Science, with the aim to explore the US market.