French Startup EG 427 Secures €18M in Series A Funding for Pinpoint Gene Therapies
EG 427, a French biotechnology company specializing in pinpoint gene therapies, has successfully closed its Series A funding round with a total investment of €18 million. The funding will support the development of their unique non-replicative Herpes Simplex Virus type 1 (nrHSV-1) based vector platform. This platform enables precise and durable expression of disease-modifying transgenes, offering a promising solution for chronic conditions such as neurogenic bladder dysfunction.
Addressing Neurogenic Bladder Dysfunction with Innovative Gene Therapy
Neurogenic bladder dysfunction, a chronic and hazardous condition prevalent among individuals with spinal cord injuries and neurodegenerative diseases like multiple sclerosis and Parkinson’s disease, often requires drug treatments that paralyze the bladder muscle. However, these existing drugs may cause urinary retention and associated infections. EG 427’s lead asset, EG110A, utilizes their novel nrHSV-1-based vector platform to selectively target and silence type-C sensory neurons, providing a potentially safer and more effective approach.
Additional €5M Raised in Final Closing of Series A Round
EG 427 recently concluded the final closing of its Series A funding round, securing an additional €5 million. The investment comes from a mix of existing investors and new family office investors. The total funding raised in the Series A round now amounts to €18 million. These newly acquired funds will be utilized to further advance EG 427’s nrHSV-1 vector platform, with the goal of filing an Investigational New Drug (IND) application for EG110A, their lead product targeting neurogenic bladder overactivity, by Q1 2024.
Future Plans: Series B Fundraising and Clinical Development
EG 427 has outlined its plans to initiate a Series B fundraising round in 2023. The funds raised through this effort will be allocated towards financing the clinical development of EG110A and advancing other pipeline products. The company aims to bring innovative gene therapies like EG110A to the forefront of clinical research and ultimately offer long-lasting solutions with improved efficacy and fewer side effects for patients suffering from neurogenic bladder overactivity.
Positive Outlook from Company Executives
Philippe Chambon, M.D., Ph.D., Founder, Chairman, and CEO of EG 427, expressed his satisfaction with the conclusion of the Series A round, highlighting the strong support received from existing and new investors. Dr. Chambon emphasized that the raised funds will play a crucial role in advancing EG 427’s pipeline and ultimately filing an IND application for the first clinical study of EG110A by Q1 2024.
EG 427’s Mission and Founding Team
Founded in 2019 by Philippe Chambon, Alberto Epstein, François Giuliano, Pierre Denys, and Charles Joussain, EG 427 is focused on developing pinpoint gene therapies. Their lead product, EG110A, demonstrates the ability to deliver gene therapies with exceptional precision to targeted tissues, potentially becoming the first gene therapy product for treating neurogenic bladder overactivity and other bladder pathologies.
By employing nrHSV-1 vectors and local administration into the bladder muscle, EG110A offers targeted therapy without systemic spread, providing the potential for long-term efficacy and reducing the need for repeated injections.