Genespire, a biotechnology company developing off-the-shelf gene therapies for pediatric patients affected by genetic diseases, today announced the closing of a €46.6 million (~$52 million) Series B financing, co-led by Sofinnova Partners, XGEN Venture and CDP Venture Capital through its Large Venture Fund forming a strong syndicate with Indaco SGR.
The financing will enable the development of GENE202, the company’s lead candidate, up to a Phase I/II clinical trial for the treatment of MMA, a devastating genetic disorder impairing the metabolism of certain amino acids and fats.
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Karen Aiach-Pignet, Genespire’s CEO said, “Our highly innovative ISLV platform gives Genespire the unique ability to bring groundbreaking treatments that have the potential to transform the lives of children suffering from genetic disease. The support from our new and existing investors reflects the enthusiasm and confidence in our platform’s potential, with further validation achieved from the promising data generated to date. We extend a heartfelt gratitude to our previous CEO, Julia Berretta, for her instrumental role in this financing round, and we look forward to working closely with CDP Venture Capital, XGEN Venture and Indaco SGR, alongside our founding investor, Sofinnova Partners, as well as the SR-Tiget team, as we drive our first therapy in MMA towards the clinic.”
This Series B financing round will also strengthen the Company’s pipeline by fostering discovery and preclinical work on candidate products targeting several additional genetic diseases.
“Since our initial investment, we’ve been deeply convinced by Genespire’s world-class team and its groundbreaking lentiviral technology.” said Lucia Faccio, Partner at Sofinnova Partners. “We remain firmly committed to supporting the company’s growth in collaboration with our colleagues from XGEN, CDP Venture Capital and Indaco, to pave the way for single treatment approaches for several genetic disorders in children.”
“Gene therapy is starting to deliver results with several recent clinical successes and product approvals and we believe that Genespire’s approach offers huge opportunities. We look forward to working with fellow investors and the Management team to help realize this potential.” commented Paolo Fundarò, Founder and Managing Partner from XGEN Venture.
“Health, particularly Biotechnology Research dedicated to therapeutic needs, is one of the strategic macro-areas prioritized in our 2024-2028 Business Plan,” says Agostino Scornajenchi, CEO and General Manager of CDP Venture Capital, “Genespire’s research started in the renowned laboratories of the San Raffaele Institute, and is being advanced by an ambitious team that, through advanced gene therapy technologies and gene therapies, aims to offer curative treatments for diseases that currently lack effective therapeutic options, such as MMA. We look forward to supporting the company to set a new international gold standard.”
In connection with the Series B round, Marco Dieci, Senior Advisor at CDP Venture Capital and Chief Executive Officer of Simis S.r.l., will join Genespire’s Board of Directors as the representative for CDP Venture Capital, alongside Paolo Fundarò, Founder and Managing Partner from XGEN Venture.
About Genespire
Genespire is a biotechnology company, developing off-the-shelf gene therapies based on immune shielded lentiviral vectors (ISLVs) for pediatric patients affected by genetic diseases. ISLVs are designed to be used intravenously and allow the life-long production of the therapy directly from the patient’s liver. Genespire is initially advancing therapeutic programs in inherited metabolic diseases with high unmet medical need. Based in Milan, Italy, Genespire was founded in March 2020 by the gene therapy pioneer Prof. Luigi Naldini and Dr. Alessio Cantore, at the Fondazione Telethon and Ospedale San Raffaele.
