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Sofinnova leads €16.5m VC round in French biotech developer Lysogene

22 May 2014

Gene therapy biotechnology company Lysogene has closed a €16.5m Series A financing led by French venture capital firm Sofinnova Partners.

Sofinnova is now the company’s main institutional investor and joins new and co-lead investors include Bpifrance, through its Innobio fund, and Novo Seeds, part of Novo.

Following the deal, Rafaèle Tordjman, Chahra Louafi and Henrijette Richter, respectively as representatives of Sofinnova Partners, Innobio and Novo, will sit on the board.

Lysogene was founded in 2009 and specialises in intracerebral gene therapy aimed at treating neuro-degenerative diseases, such as Sanfilippo syndrome Type A, an extremely severe and debilitating disorder which is fatal in childhood and affects approximately 1 in 100,000 births.

The financing raised be used to expand the clinical studies for its main product towards its marketing approval in Europe and the US, it said. Funds will also allow the expansion of the pipeline with a second product targeting another genetic disease affecting the central nervous system.

Rafaèle Tordjman, MD, PhD, managing partner at Sofinnova Partners said: “We are thrilled to back such a dynamic and experienced team. The firm has achieved extraordinary progress in less than five years. We are convinced that the technology has the potential to become a realistic option for such particularly vulnerable patients who currently have no treatment options”.

Based in Paris, Sofinnova has over €1.3bn of funds under management. It recently led a $50m financing round for Principia Biopharma.

https://www.altassets.net/private-equity-news/by-news-type/deal-news/sofinnova-ventures-leads-50m-principia-biopharma-series-b-round.html

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