France-based biotechnology company GenSight Biologics raised $36m in series B funding today and added several backers to an investor base already including pharmaceutical firm Novartis.
Fidelity Management & Research Company, Jennison Associates, Sphera Global HealthCare Fund, Perceptive Advisors and HealthCap joined GenSight’s series A investors in the round.
GenSight raised $41.8m in 2013 from Novartis Venture Fund, a corporate venturing subsidiary of Novartis, Abingworth, Versant Ventures and Index Ventures.
Founded in 2011, GenSight is working on treatments for eye diseases. It will use the capital to advance its product pipeline and support clinical development of its lead product candidate, GS010, which will use a gene therapy approach to target Leber’s Hereditary Optic Neuropathy (LHON).
The company intends to commence Phase 3 clinical trials of GS010 for LHON in the fourth quarter of 2015.
GenSight filed for a $100m initial public offering on Nasdaq two weeks ago, at which time Novartis Venture Fund was its largest shareholder, owning a 20.4% stake. It is at present unclear how the series B round will affect the shareholding status of GenSight’s investors.
– Image courtesy of GenSight Biologics