Lysogene, a phase 3 gene therapy platform Company targeting central nervous system (CNS) diseases, announced that it has secured a €4.3 million non-dilutive financing from Bpifrance.
This financing consists of a €3.0 million R&D innovation loan to finance the clinical study of LYS-GM101 drug candidate for the treatment of GM1 gangliosidosis, and a reimbursable advance of €1.3 million to prepare the preclinical studies of LYS-FXS01 in Fragile X syndrome.
The R&D innovation loan is fully drawn down upon signature of the contract and amortized over 5 years from 2024. The reimbursable advance is paid in two installments, including €0.9 million upon signature of the contract and €0.4 million in 2024, and is repayable over 5 years starting in 2025.
Stéphane Durant des Aulnois, Chief Financial Officer of Lysogene commented: “This non-dilutive financing is an essential boost for the development of Lysogene’s new programs with the ongoing recruitment of patients in LYS-GM101 clinical study for GM1 gangliosidosis, and the start of LYS-FXS01 preclinical studies for Fragile X syndrome. We are very pleased with the support and confidence shown by Bpifrance, which continues to accompany the Company in its development.”
Lysogene is a gene therapy Company focused on the treatment of orphan diseases of the central nervous system (CNS). The Company has built a unique capability to enable a delivery of gene therapies to the CNS to treat lysosomal diseases and other genetic disorders of the CNS. A phase 2/3 clinical trial in MPS IIIA in partnership with Sarepta Therapeutics, Inc. is ongoing. An adaptive clinical trial in GM1 gangliosidosis is ongoing. In accordance with the agreements signed between Lysogene and Sarepta Therapeutics, Inc., Sarepta Therapeutics, Inc. will hold exclusive commercial rights to LYS-SAF302 in the United States and markets outside Europe; and Lysogene will maintain commercial exclusivity of LYS-SAF302 in Europe. Lysogene has also entered into an exclusive worldwide license agreement with SATT Conectus for a gene therapy candidate for the treatment.