EG 427, a biotechnology company leading the development of pinpoint genetic medicines for prevalent chronic diseases in neurology, announced today the successful closing of a \u20ac27 million Series B financing round co-led by Andera Partners and Bpifrance – as part of the InnoBio investment strategy.<\/p>\n
\u201cThe successful closing of this Series B financing is a major milestone for EG\u00a0427, which brings us the strong support of two major institutional investors, Andera Partners and Bpifrance, participation of the specialist fund, SCI Ventures, and the continuous support of our existing investors. Genetic medicine solutions have the potential to address major medical needs affecting large patient population with chronic diseases. Initially, our focus is on pathologies in neuro-urology. This field is currently underserved and lacks significant recent medical innovations, despite its huge costs to the healthcare systems. This funding allows us to advance our first program focussed on dysfunctions of the bladder, such as neurogenic bladder, through its initial clinical trial. This first human study, currently in progress, will provide a read on safety and possibly early efficacy,<\/em>\u201d said Philippe Chambon, MD, PhD, Chief Executive Officer at EG 427.<\/strong><\/p>\n \u201cAs a world leader in developing non-replicative HSV vectors in neurology, EG 427 has the potential to significantly advance the applications of genetic medicine through highly targeted delivery and local administration. In addition, EG 427\u2019s platform could enable repeated dosing and more affordable production costs compared to AAV based vectors. If successful, this approach could offer a better and longer-term therapeutic solution for patients who suffer from chronic neurological diseases,<\/em>\u201d said Beno\u00eet Barteau, Investment Director at Bpifrance \u2013 InnoBio funds.<\/strong><\/p>\n \u201cEG 427\u2019s technology has the potential to significantly disrupt current treatment paradigms. The lead programme EG110A could significantly improve treatment options for a range of underserved neuro-urology indications. We are thrilled to have co-led this financing round to advance EG110A in the clinic and EG 427\u2019s\u00a0broader genetic medicine pipeline,<\/em>\u201d said Rapha\u00ebl Wisniewski, Partner at Andera Partners<\/strong>.<\/p>\n <\/p>\n The proceeds from the financing will be used to fund the phase 1b\/2a development of EG\u00a0427\u2019s lead genetic medicine product, EG110A, for the treatment of neurogenic detrusor overactivity (NDO) in spinal cord injury (SCI) patients. This US study could open the way for clinical development across a series of medically important but neglected neuro-urology pathologies affecting millions of patients.<\/p>\n The financing will also support expansion of EG\u00a0427\u2019s pipeline with several therapeutic vectors based on its unique HERpes Modular Expression System (HERMES) technology. In these targeted diseases, this technology has the ability to maintain long-term activity and achieve low cost of goods, which should provide strong medical and economic value to the healthcare systems.<\/p>\n MTS Health Partners served as exclusive financial advisor to EG 427 in this financing round.<\/p>\n","protected":false},"excerpt":{"rendered":" EG 427, a biotechnology company leading the development of pinpoint genetic medicines for prevalent chronic diseases in neurology, announced today the successful closing of a \u20ac27 million Series B financing round co-led by Andera Partners and Bpifrance – as part of the InnoBio investment strategy. \u201cThe successful closing of this Series B financing is a…<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[123],"class_list":["post-90437","post","type-post","status-publish","format-standard","hentry","category-biodiscovery-en"],"acf":[],"yoast_head":"\n