Context
GENSIGHT is a clinical-stage biotechnology company discovering and developing novel therapies for neurodegenerative retinal diseases and diseases of the central nervous system.
GENSIGHT’s pipeline leverages two core technology platforms: Mitochondrial Targeting Sequence (MTS) and optogenetics, to help preserve or restore vision in patients suffering from severe degenerative retinal diseases.
The company’s lead product candidate, GS010 (LUMEVOQ), is in Phase III trials for Leber’s Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible vision loss in teens and young adults. GenSight is well positioned to capitalize on addressing LHON as the first gene therapy (GTx) for the condition, and only the fifth potentially approved gene therapy. GENSIGHT recently submitted a European Marketing Authorization Application for LUMEVOQ in Europe.
Follow-on Offering proceeds will be mainly used to actively prepare the commercial launch of LUMEVOQ in Europe and finance the end of the clinical development necessary for the filing of a Biologics License Application (BLA) in the US; and to prepare a Phase III clinical trial of GS030 for the treatment of Retinitis Pigmentosa.
About GenSight
GenSight Biologics S.A. is a clinical-stage biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders. GenSight Biologics’ pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence (MTS) and optogenetics, to help preserve or restore vision in patients suffering from blinding retinal diseases. GenSight Biologics’ lead product candidate, LUMEVOQ® (GS010; lenadogene nolparvovec), has been submitted for marketing approval in Europe for the treatment of Leber Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease affecting primarily teens and young adults that leads to irreversible blindness. Using its gene therapy-based approach, GenSight Biologics’ product candidates are designed to be administered in a single treatment to each eye by intravitreal injection to offer patients a sustainable functional visual recovery.
Bryan, Garnier & Co acts as Joint Bookrunner to GenSight on its EUR 25 million Follow-on Offering
Bryan, Garnier & Co acted as Joint Bookrunner on GenSight’s EUR 25m Follow-on Offering, which priced on 22 October 2020.
In a wall-crossed overnight ABB, GenSight raised EUR 25m from Tier-1 US and European healthcare specialists, anchored by the company’s main shareholders Sofinnova and Bpifrance, as well as the participation of high-profile biotech specialists Invus and Arix Bioscience.
The transaction was priced at EUR 4.20 a share, representing a discount of 11.6% to the last market closing price (21 October 21 2020).
This is another landmark transaction for Bryan, Garnier & Co, which demonstrates its unique ability to raise capital for European gene therapy biotech companies in a highly competitive fundraising environment.
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