GenSight Biologics S.A. - Announces successful manufacturing of 2nd LUMEVOQ® batch
*Following formal confirmation of the results in the next few days, SIGHT will be eligible to drawdown the 2nd EUR 4m tranche from the bridge financing provided by Sofinnova, Invus, and UPMC. This funding provides runway until mid-December, after which the company expects to need another EUR 10m to continue operations until Q2 2024.*With EMA's feedback and a 2nd batch manufacturing success in hand, we believe that most of the clouds surrounding LUMEVOQ® have been cleared and that the company is better positioned to come back to the capital market.*We put the name under review following withdrawal of the MAAGenSight Biologics is a clinical-stage biotechnology company based in France. Co. is engaged in discovering and developing novel therapies for mitochondrial and neurodegenerative diseases of the eye and central nervous system by combining a gene therapy-based approach with its core technology platforms of mitochondrial targeting sequence, or MTS, and optogenetics. Co.'s initial focus has been on developing therapies for severe retinal diseases, with the goal of preserving or restoring vision in patients suffering from sight-threatening ophthalmic diseases. Co.'s product pipeline comprises two candidates for the treatment of sight-threatening retinal degenerative diseases, GSO1O and GSO3O.
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