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GenSight Biologics becomes first gene therapy company listed in Europe
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GenSight Biologics has become the first gene therapy company to be listed in Europe following an initial public offering on Euronext Paris, according to company correspondence.
GenSight, founded in 2012 and based in Paris, focuses on the discovery and development of novel therapies for neurodegenerative conditions of the eye and diseases of the central nervous system.
The IPO raised €40 million, with a total of 5,737,837 new shares to be offered to the public at the price of €8 per share. If the over-allotment is fully exercised, the company may increase the total amount raised to approximately €45.9 million, according to the correspondence.
The IPO will support development of the company’s lead product candidate, GS010, a treatment for Leber’s hereditary optic neuropathy, as well as GS030, a treatment for retinitis pigmentosa that is in the preclinical development stage.
Two phase 3 clinical studies of GS010 are underway following promising safety and tolerability results in a phase 1/2 study, according to a separate press release from GenSight. The phase 1/2 study comprised 15 patients with Leber’s hereditary optic neuropathy, with an average disease onset of 6 years.
At 48 weeks after a single intravitreal injection in the most severely affected eye, patients with a disease onset of less than 2 years had gained 30 letters (–0.59 logMAR) in the treated eye and 13 letters (–0.25 logMAR) in the untreated eye. There was no significant difference observed in patients with a disease onset of more than 2 years.
Top-line results from the phase 3 studies are expected in late 2017.