Date: 2013-01-23
Type of information: Establishment of a new subsidiary in the EU
Company: Gene Signal (Switzerland)
Investors:
Amount:
Funding type: financing round
Planned used: The proceeds will be used to complete a number of Phase II trials in back of the eye angiogenic diseases and to take through to commercialisation its lead product Aganirsen for the Orphan Drug indication neovascular-associated corneal graft rejection (NV-CGR), a rare eye disease. Phase III results in NV-CGR are due to be announced in mid-2013.
Others: Gene Signal, a Swiss-based biotechnology company pioneering the development of therapies for angiogenesis-based diseases, has announced the completion of its latest funding round. This was raised principally through the same group of private investors who have backed the company since its formation in 2000.
The company has built an angiogenesis-focused pipelines, with six candidates in development for eleven indications in ophthalmology, dermatology, vascular disorders and cancer. The lead product Aganirsen (GS-101) is well-positioned to bring significant benefits to patients and physicians thanks to its novel mechanism of action, its excellent local tolerability and its application in the form of eye-drops or emulsion compared to current therapies such as lasers or injections.
In the coming three years 2013 -15, Gene Signal plans to achieve significant milestones, including:
• Phase III results, filing and commercialisation of Aganirsen in Europe for the Orphan Drug indication neovascular-associated corneal graft rejection (NV-CGR)
• Start of a Phase II trial of Aganirsen for the Orphan Drug indication neovascular glaucoma
• Start of Phase II trials for Aganirsen in non-orphan eye diseases such as age-related macular degeneration and diabetic retinopathy
• Results of a pilot study and start of a Phase II trial of Aganirsen for psoriasis
• Development to Phase I of other product candidates – proteins, small peptides and monoclonal antibodies – in various oncology and wound-healing indications.
Therapeutic area: Ophtalmological diseases - Metabolic diseases - Rare diseases - Cancer - Oncology
