Somagenetix AG secures CHF 10 million in Series A financing to advance lentiviral gene therapy for Chronic Granulomatous Disease (CGD)
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EQS-News: Somagenetix AG
/ Key word(s): Financing/Personnel
Somagenetix AG secures CHF 10 million in Series A financing to advance lentiviral gene therapy for Chronic Granulomatous Disease (CGD) Zurich, Switzerland, October 08, 2024 – Somagenetix AG, a pioneering biotech company dedicated to revolutionizing gene therapy for phagocyte disorders, announced today the initial closing of its Series A financing round, raising CHF 10 million. The round was led by Vi Partners, renowned venture capital firm specialized in life sciences and technology investments. Among others, existing investors Schroders Capital, Zürcher Kantonalbank and Verve Ventures also participated to this financing round. The funds will enable Somagenetix to advance its leading gene therapy-candidate, SGX-001, into a clinical trial for the treatment of p47 Chronic Granulomatous Disease (CGD). CGDs are a group of inherited immunodeficiencies with recurrent life-threatening infections. The condition is caused by genetic defects leading to functional impairments of phagocytes, a type of white blood cells, rendering them unable to kill pathogens. The current standard of care is stem cell transplant, which is only available upon finding an immunologically compatible donor. The preclinical development of p47-CGD gene therapy is currently supported by the Wyss Zurich Translational Center. Prof. Dr. Janine Reichenbach, co-founder of Somagenetix, said: “To date, my team at the University of Zurich has developed a best-in-class lentiviral gene therapy platform for phagocytes, as well as achieved successful preclinical validation of our approach to curing CGD, and we look forward to starting clinical application of SGX-001 during 2026.” Alongside this Series A raise, Dr. Andrin Oswald has been appointed CEO. Dr. Oswald brings over two decades of pharmaceutical leadership experience to the team. He served in a variety of CEO and Board roles in small and large pharmaceutical companies. Dr. Oswald holds a doctorate in medicine from the University of Geneva, Switzerland. Dr. Andrin Oswald, CEO of Somagenetix AG, commented: “I am excited to have joined Somagenetix. With this financing we will be able to advance the company to the clinical stage. Once validated in CGD, the underlying technology has the potential to cure patients with a wide range of phagocyte-related severe diseases.” Dr. Diego Braguglia, Managing Partner at Vi Partners, added: “Vi Partners participation in Somagenetix is an investment in the future of personalized medicine. By harnessing cutting-edge lentiviral gene therapy technologies, Somagenetix is positioning itself at the forefront of innovation that has the potential to transform lives on a global scale. We are proud and excited to support a company that is leading the change towards a healthier tomorrow.” About Somagenetix AG Founded in 2019, as a spin-off of the University of Zurich (UZH), Somagenetix AG is at the forefront of gene therapy innovation, focused on curing phagocyte disorders with a one-time treatment. The company’s proprietary platform technology overcomes the limitations of traditional gene therapies by ensuring unprecedented safety and cellular specificity while providing long-term therapeutic effectiveness. Somagenetix has built a best-in-class gene therapy platform with currently three IP assets. About Wyss Zurich Translational Center The Wyss Zurich Translational Center (Wyss Zurich) is a joint accelerator of the University of Zurich and ETH Zurich (Swiss Federal Institute of Technology Zurich). It was established to foster translational research focused on developing treatment protocols and clinical therapies, as well as novel technologies and intelligent systems. For more information, please visit www.wysszurich.ch. About Vi Partners Vi Partners is one of the oldest VC Investors in Central Europe. Vi Partners is supporting the innovation ecosystem in healthcare and technology in Switzerland and neighboring countries since over 2 decades. Vi Partners has built an exceptional network of entrepreneurs, managers, syndicate partners and academic thought-leaders. Vi Partners has leveraged own entrepreneurial wisdom with a strong track record of venture investing in early-stage healthcare and technology companies.
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08.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
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