GenSight Biologics announces the registration of its document de base in relation to its planned IPO on Euronext’s regulated market in Paris
Paris, 25 May 2016 – GenSight Biologics, a biotechnology company discovering and developing novel gene therapies for neurodegenerative retinal diseases and diseases in the central nervous system, announces the registration of its document de base with the French Autorité des Marchés Financiers (AMF) under number I.16-049 on May 24, 2016 in relation to its planned IPO on Euronext’s regulated market in Paris.
The registration of the document de base is the first step in GenSight Biologics’ planned IPO on Euronext’s regulated market in Paris, which is contingent on market conditions and regulatory requirements including the AMF’s visa on a prospectus to be prepared as part of the transaction.
GenSight Biologics is developing two core technology platforms: Mitochondrial Targeting Sequence (MTS), and optogenetics. Out of a large number of applications, GenSight Biologics has chosen to initially focus on neurodegenerative retinal diseases. GenSight Biologics’ product candidates GS010 and GS030 are designed to be administered in a single treatment to each eye by intravitreal injection, in order to offer patients a long-lasting functional cure.
GenSight Biologics’ most advanced lead product candidate GS010 targets Leber Hereditary Optic Neuropathy (LHON) and is currently in Phase III. GS010 has received Orphan Drug designation in Europe and the United States. GenSight Biologics’ MTS technology platform was originally developed by the teams of Pr. José Sahel at the Institut de la Vision in Paris and is protected by patents over which the company has acquired exclusive licenses in ophthalmology and non-exclusive licenses in other mitochondrial diseases. GenSight Biologics believes that its MTS technology platform can be used to address indications outside of ophthalmology involving defects of the mitochondrion.
GenSight Biologics’ second product candidate, GS030, based on the optogenetics technology, is currently at the preclinical stage. The optogenetics technology confers light sensitivity to neurons, which allows to specifically stimulate targeted cells without affecting neighboring cells.GS030 is initially intended to treat all forms of genetic retinitis pigmentosa, and will subsequently target geographic atrophies, resulting from the late-stage form of age-related macular degeneration. GenSight Biologics is expected to initiate a Phase I/II clinical trial with GS030 during the second half of 2017, subject to the requirements of regulatory agencies.
“The IPO project is a significant new step in GenSight Biologics’ development. Our lead product candidate GS010, currently in Phase III clinical trials, could be two years away from filing a regulatory approval for a marketing authorization from 2018 onwards. If the results from the ongoing clinical trials meet expectations, we could offer patients a treatment that should allow them to gain autonomy and benefit from an improved quality of life.” commented Bernard Gilly, CEO of GenSight Biologics.