Date: 2011-11-11
Type of information: Series B financing round
Company: Genable Technologies (Ireland)
Investors: Fountain Healthcare Partners (ireland) Delta Partners (USA - CA)
Amount: € 5 million
Funding type: series B financing round
Planned used: This funding will support the on-going development of Genable’s suppression/replacement gene therapy technology and specifically progress Genable’s lead product GT038 for retinitis pigmentosa forward into clinical evaluation in man. GT038 is a gene therapy that utilizes AAV vectors to obtain expression of RNA interference molecules, which suppress the expression of the faulty gene, and replaces this with a gene encoding a functioning protein. This simple combination represents a new paradigm in medicine with the potential to cure this debilitating disease and not just treat the symptoms. Genable Technologies Ltd, was granted orphan drug designation for GT038 by the European Medicines Agency in December 2010.
Others: * On November 11, 2011, Genable Technologies successfully completed a new financing round for €5m led by new investors Fountain Healthcare Partners alongside existing investors Delta Partners.
Therapeutic area: Rare diseases - Genetic diseases
