GenSight: bridge financing after a delay on Lumevoq

(CercleFinance.com) - GenSight Biologics jumps 20% on Friday after securing financing of around 900,000 euros from its existing investors.


In a press release, the biopharmaceutical company explains that it intends to use the net proceeds from the transaction to finance its general needs related to the delay it has encountered in resuming the compassionate access approvals program for its Lumevoq gene therapy, now expected in April 2025.

This product, GenSight's lead candidate, was developed for the treatment of Leber's hereditary optic neuropathy (NOHL), a rare mitochondrial disease that mainly affects adolescents and young adults, leading to irreversible blindness.

This bridge financing, the third since we submitted our application to the ANSM in November to resume the Compassionate Access Program (CAP) in France, confirms the continued confidence of our long-standing investors in our innovative gene therapy program", said Jan Eryk Umiastowski, CFO.

As of February 28, the company's cash and cash equivalents totaled 700,000 euros.

GenSight notes that it has benefited from the renewed support of its main shareholders, Bpifrance, Invus and Sofinnova.

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