Novartis-backed GenSight, which is developing eye disease treatments, raised almost $42m in its only publicly disclosed funding round.

GenSight Biologics, a France-based biotechnology company backed by pharmaceutical firm Novartis, filed for an initial public offering in the US on Tuesday that could raise up to $100m.

Founded in 2011, GenSight is developing treatments for mitochondrial and neurodegenerative eye diseases, and intends to expand its gene therapy-based technology to treat diseases of the central nervous system.

The IPO proceeds will be spent on preclinical and clinical development of two of the company’s product candidates, both of which will…

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