Novartis et al. in $36m series-B for GenSight

Investing alongside Novartis and GenSight's other existing backers were Fidelity Management & Research, Jennison Associates, Sphera Global Healthcare Fund, Perceptive Advisors and Swedish VC HealthCap Private Equity.

The second capital injection, which consists of preferred stock, will help GenSight develop its current product pipeline, with a particular focus on its flagship product GS010

The therapy is intended to fight Leber's hereditary optic neuropathy (LHON) via gene replacement and mitochondrial-targeting sequencing. It entered the clinical stage in 2013, shortly after GenSight secured its first institutional funding round.

Following the funding round, clinical trials for GS010 are expected to reach phase III during Q4 2015.

Previous funding
According to unquote" data, GenSight Biologics first received institutional funding in April 2013, when Novartis Ventures Fund led a €32m series-A round for the business alongside Abingworth Management, Index Ventures and Versant Ventures.

Company
GenSight was founded in 2011 and has its headquarters at the Vision Institute in Paris. The biotech specialises in the development of therapies targeting mitochondrial and neurodegenerative eye and central nervous system conditions.

Advisers
Equity – Leerink Partners (Corporate finance).

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