Context
GenSight is a clinical-stage biotechnology company that discovers and develops novel therapies for neurodegenerative retinal diseases and diseases of the central nervous system.
Its pipeline leverages two core technology platforms, Mitochondrial Targeting Sequence (MTS) and optogenetics, which help preserve or restore vision in patients suffering from severe degenerative retinal diseases.
GenSight’s lead product candidate, LUMEVOQ® (GS010), is close to commercial launch for Leber’s Hereditary Optic Neuropathy (LHON), a rare mitochondrial disease that leads to irreversible vision loss in teens and young adults. LUMEVOQ will be the first gene therapy for LHON, and only the fifth potentially approved gene therapy following its September 2020 application for European Marketing Authorization.
Follow-on Offering proceeds will mainly be used to prepare the commercial launch of LUMEVOQ in Europe to treat LHON; prepare New Drug Application (NDA) submission and commercial launch in the US; launch Phase 2/3 studies for GenSight’s GS030 therapy; and finance the pipeline development of preclinical assets.
About GenSight
GenSight Biologics S.A. is a clinical-stage biopharma company focused on developing and commercializing innovative gene therapies for retinal neurodegenerative diseases and central nervous system disorders. GenSight Biologics’ pipeline leverages two core technology platforms, the Mitochondrial Targeting Sequence (MTS) and optogenetics, to help preserve or restore vision in patients suffering from blinding retinal diseases. Using its gene therapy-based approach, GenSight Biologics’ product candidates are designed to be administered in a single treatment to each eye by intravitreal injection to offer patients a sustainable functional visual recovery. Developed as a treatment for Leber Hereditary Optic Neuropathy (LHON), GenSight Biologics’ lead product candidate, LUMEVOQ® (GS010; lenadogene nolparvovec), is currently in the review phase of its registration process in Europe, and in Phase III to move forward to a BLA filing in the U.S.
Bryan, Garnier & Co acts as Joint Global Coordinator and Joint Bookrunner to GenSight on its EUR 30 million Follow-on Offering
Bryan, Garnier & Co acted as Joint Global Coordinator and Joint Bookrunner on GenSight’s Follow-on Offering.
Via a wall-crossed overnight accelerated book-build, GenSight raised EUR 30m from Tier-1 US and European healthcare specialists, anchored by shareholders Sofinnova and Arix Bioscience.
The transaction was priced at EUR 6.70 a share, representing a discount of 8.9% vs. closing price (March 25, 2021).
• Quality oversubscription permitted GenSight to upsize to EUR 30m (from EUR 25m) and at an 8.9% discount.
• Positive aftermarket perf. of +7.6% vs. offer price was seen on D+1.
This is Bryan, Garnier & Co’s fourth European biotech capital raise in 2021 and marks another landmark transaction that demonstrates the firm’s unique ability to raise capital for gene therapy companies in a highly competitive fundraising environment.
This is the second follow-on led by Bryan, Garnier & Co for GenSight in the last 6 months.
Share