GenSight Biologics raises €32.2m from four venture capital firms

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paris 11_sqParis-based gene therapy specialist GenSight Biologics has raised €32.2m via a Series A round, which was co-led by Novartis Venture Fund, Abingworth, Versant Ventures and Index Ventures.

The company will use the cash to develop a gene replacement therapy for Leber’s hereditary optic neuropathy (LHON) and an optogenetic therapy for retinitis pigmentosa.

GenSight expects its lead product to enter the clinic in 2013 in LHON patients.

Florent Gros, Novartis Venture Funds managing director, said, “We are delighted to be working with GenSight and the other investors to assist the company in progressing its highly innovative technology and gene-based therapeutics towards the clinic.

“Gene therapy represents a new frontier in targeting ophthalmic diseases, and GenSight’s expertise and capabilities are outstanding.”

Novartis currently manages more than $850m. Late in 2012 Novartis participated in two other Series A rounds for Thesan Pharmaceuticals and Galera Therapeutics.

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