Satt Paris-Saclay portfolio company EG 427 has collected $14m in its first funding round.
EG 427, a France-based gene therapy developer, raised €12m ($14m) in its series A round led by private investor David Lamond today.
A range of unnamed family offices from San Francisco also participated in the round.
EG 427 is working on pinpoint gene therapy that exploits the Herpes simplex virus 1 to treat patients suffering from severe, chronic and localised diseases. It is is initially focused on peripheral nervous system disorders.
The spinout was founded by regional tech transfer office Satt Paris-Saclay to exploit research conducted at Versailles Saint-Quentin-en-Yvelines University and Assistance Publique – Hôpitaux de Paris, the university hospital trust covering Paris and its surroundings.
The series A financing has been allocated to moving the company’s lead asset into the clinic. The programme is aimed at neurogenic bladder caused by spinal cord injury, which causes the patient to lack bladder control.
