Sofinnova invests €16m in Italian biotech company Genespire

Following the deal, Julia Berretta was appointed as CEO of Genespire, while Sofinnova managing partner Graziano Seghezzi and partner Lucia Faccio joined the company's board.

The GP deployed capital from Sofinnova Telethon Fund, a €108m vehicle that targets early-stage investments in Italian biotech companies developing cures for rare genetic diseases.

This is the third deal made by the fund, following its investments in Epsilen Bio, which is developing a technology to turn off genes linked to specific pathologies without irreversibly modifying the DNA; and PinCell, a pre-clinical-stage biotech company focused on the development of new therapies for rare dermatological diseases. The fund has deployed €25m so far.

Sofinnova Telethon Fund was launched by Sofinnova and ITATech, a joint venture between the European Investment Fund (EIF) and Italian state-backed Cassa Depositi e Prestiti (CDP).

The vehicle is led by technology transfer specialists Lucia Faccio and Paola Pozzi, partners at Sofinnova who are based in the firm's Milan office.

The office also houses BiovelocITA, an Italian biotechnology accelerator co-founded in 2015 by Sofinnova Partners alongside entrepreneurs Silvano Spinelli and Gabriella Camboni.

Company
Based in Milan, Genespire specialises in developing therapies for patients affected by genetic diseases, particularly primary immunodeficiency disorders and inherited metabolic diseases.

The company was founded in March 2020 by gene therapy specialists Luigi Naldini and Alessio Cantore, The Telethon Foundation and San Raffaele Hospital. It is a spin-out from SR-Tiget, the San Raffaele Hospital cell and gene therapy research institute.

People
Sofinnova Partners – Graziano Seghezzi (managing partner).
Genespire - Luigi Naldini (co-founder).

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