SanSheng Pharma Invests in GenSight Biologics as It Secures €12 Million Financing to Advance Innovative Gene Therapies

VCBeat (WeChat ID: vcbeat) has learned that on December 20, 2019, local time, biopharmaceutical company GenSight Biologics (Euronext ticker: SIGHT) announced the completion of a €12 million financing through Kreos Capital VI (UK) Limited in the form of debt financing. Meanwhile, GenSight Biologics also completed a €9 million capital increase through subscriptions by one of its major shareholders, Sofinnova Crossover I SLP, and its new strategic investor in China, Strategic International Group Limited, a wholly-owned subsidiary of 3SBIO INC.

GenSight Biologics S.A. is a clinical-stage biopharmaceutical company focused on the discovery and development of innovative gene therapies for the treatment of retinal degenerative diseases and central nervous system disorders. GenSight Biologics leverages its two core technology platforms—Mitochondrial Targeting Sequence (MTS) and optogenetics—to help preserve or restore vision in patients with blinding retinal diseases.

It is worth noting that GenSight Biologics’ lead candidate, GS010, is currently undergoing Phase III clinical trials for the treatment of Leber’s Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that can cause irreversible blindness in adolescents and young adults. GenSight Biologics has adopted a gene therapy approach, with its candidate product specifically designed for bilateral administration via intravitreal injection in a single treatment session, aiming to provide patients with sustained functional vision recovery.

“Currently, we are entering a critical year for GenSight Biologics, and the proceeds from this financing will provide GenSight Biologics with greater financial flexibility in 2020. At the same time, this financing minimizes share dilution,” said Bernard Gilly, Co-founder and CEO of GenSight Biologics. “We are delighted to see Sofinnova’s renewed confidence in GenSight Biologics at this pivotal juncture. Furthermore, the participation of 3SBIO INC will pave the way for us to create added value in the Greater China region.”

3SBIO INC. is an integrated biotechnology company with a market-leading biopharmaceutical business covering therapeutic areas such as oncology, autoimmune diseases, nephrology, metabolic disorders, and dermatology. 3SBIO INC. is committed to building an innovative product pipeline, with more than 30 candidate products currently under development. The company has the capability to manufacture recombinant proteins, monoclonal antibodies, and chemically synthesized molecules, and operates R&D and production centers in Shenyang, Shanghai, Hangzhou, Shenzhen, and Como, Italy.

(Compiled by Ning Chen)