Vita-Salute San Raffaele University-founded Genenta has now assembled $35.4m altogether to progress gene therapies for cancer targeting haematopoietic stem and progenitor cells.
Genenta, an Italy-based oncological gene therapy exploiting research from Vita-Salute San Raffaele University, has increased its latest round to €15.1m ($16.6m) with $2.1m from unnamed new and existing investors including individuals and family offices, StartupBusiness reported on Monday.
The extension follows an initial $14.5m tranche in September 2019 co-led by private equity firm Qianzhan Investment Management and family office Fidim.
Genenta is working on therapies for cancer that deposit genetic material into haematopoietic stem and progenitor cells to provoke tumour-infiltrating monocytes and macrophages by expressing the therapeutic response interferon alpha.
The company’s lead asset, Temferon, is undergoing phase 1 and 2 clinical trials for the haematological indication multiple myeloma and a subtype of solid tumour brain cancer known as glioblastoma multiforme.
Genenta was founded by Luigi Naldini, professor of cell and tissue biology and of cell and gene therapy at Vita-Salute San Raffaele’s school of medicine.
Genenta has now raised $35.4m in funding altogether. Proceeds from the latest round have been channelled into clinical trials that are investigating Temferon’s effects on three glioblastoma multiforme patients at the Neurological Institute Milan at San Raffaele Hospital.
The spinout received $8.4m of series B capital in mid-2017 from family offices Rovati, Ferregamo and Marzotto, in addition to angel investors including members of syndicate Club degli Investitori, unnamed existing investors and members of Genenta’s board.
The spinout previously closed a $11m two-tranche series A round in 2015 with contributions from private banking firm Private Bank of Mediobanca and its Banca Esperia unit, as well as banking, insurance and asset management group Banca Mediolanum.
