Andera Partners and Bpifrance co-lead €27 million Series B round for EG 427 to finance ongoing clinical study and platform development
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EQS-News: Andera Partners
/ Key word(s): Financing
PRESS RELEASE Andera Partners and Bpifrance co-lead €27 million Series B round for EG 427 to finance ongoing clinical study and platform development
Paris, France – February 20th, 2025 – Andera Partners, a leading European private equity player, announced today that it is co-leading a €27 million Series B financing round for EG 427, a biotechnology company leading the development of pinpoint genetic medicines for prevalent chronic diseases in neurology, alongside Bpifrance - as part of the InnoBio investment strategy. “The successful closing of this Series B financing is a major milestone for EG 427, which brings us the strong support of two major institutional investors, Andera Partners and Bpifrance, participation of the specialist fund, SCI Ventures, and the continuous support of our existing investors. Genetic medicine solutions have the potential to address major medical needs affecting large patient population with chronic diseases. Initially, our focus is on pathologies in neuro-urology. This field is currently underserved and lacks significant recent medical innovations, despite its huge costs to the healthcare systems. This funding allows us to advance our first program focussed on dysfunctions of the bladder, such as neurogenic bladder, through its initial clinical trial. This first human study, currently in progress, will provide a read on safety and possibly early efficacy,” said Philippe Chambon, MD, PhD, Chief Executive Officer at EG 427. “As a world leader in developing non-replicative HSV vectors in neurology, EG 427 has the potential to significantly advance the applications of genetic medicine through highly targeted delivery and local administration. In addition, EG 427’s platform could enable repeated dosing and more affordable production costs compared to AAV based vectors. If successful, this approach could offer a better and longer-term therapeutic solution for patients who suffer from chronic neurological diseases,” said Benoît Barteau, Investment Director at Bpifrance – InnoBio funds. “EG 427’s technology has the potential to significantly disrupt current treatment paradigms. The lead programme EG110A could significantly improve treatment options for a range of underserved neuro-urology indications. We are thrilled to have co-led this financing round to advance EG110A in the clinic and EG 427’s broader genetic medicine pipeline,” said Raphaël Wisniewski, Partner at Andera Partners. The proceeds from the financing will be used to fund the phase 1b/2a development of EG 427’s lead genetic medicine product, EG110A, for the treatment of neurogenic detrusor overactivity (NDO) in spinal cord injury (SCI) patients. This US study could open the way for clinical development across a series of medically important but neglected neuro-urology pathologies affecting millions of patients. The financing will also support expansion of EG 427’s pipeline with several therapeutic vectors based on its unique HERpes Modular Expression System (HERMES) technology. In these targeted diseases, this technology has the ability to maintain long-term activity and achieve low cost of goods, which should provide strong medical and economic value to the healthcare systems. MTS Health Partners served as exclusive financial advisor to EG 427 in this financing round. ABOUT EG110A EG110A is a genetic medicine utilizing a non-replicating HSV-1 vector, which has been designed to selectively silence the signals of key bladder sensory neurons responsible for the bladder muscle overactivity, whilst preserving bladder voiding function. NDO is a common urinary bladder dysfunction caused by SCI and other neurodegenerative diseases, such as multiple sclerosis or Parkinson’s disease. ABOUT EG-427 EG 427 is the worldwide leader in non-replicating HSV-1 (nrHSV-1) vector technology in neurology, with an Investigational New Drug (IND) application for its lead product cleared by the US Food and Drug Administration (FDA) cleared in June 2024. This study is currently ongoing in the US (https://clinicaltrials.eg427.com/). It is the first human study of such a vector, targeting sensory neuron-based diseases. The product, EG110A, addresses multiple severe bladder diseases, such as neurogenic bladder (NDO) and overactive bladder (OAB), and has the potential to be a major improvement over existing therapies, resulting in better care for patients and lower costs for healthcare systems. The company’s unique HERMES platform delivers pinpoint neurotherapeutics to treat prevalent diseases of the peripheral and central nervous system. Its vectors can achieve focal transduction in specific regions and then selective expression of transgenes in targeted subsets of neurons thanks to the control of sophisticated regulatory elements. With demonstrated clinical safety and possible repeated dosing, the large payload capacity of nrHSV-1 vectors allows for versatile DNA delivery for smarter genetic medicine. For more information: check our website at www.eg427.com and follows us on LinkedIn. ABOUT ANDERA PARTNERS Created almost 25 years ago, Andera Partners is a major player in private company investments in France and internationally. Its teams manage nearly €4.5 billion in investments in life sciences (Andera Life Sciences), growth and buyout capital (Andera MidCap, Andera Expansion/Croissance, Andera Co-Invest), sponsorless transactions (Andera Acto) and ecological transition (Andera Infra). Andera Partners’ mission is to work alongside companies and their managers to support them in achieving strong and sustainable growth. The quality of performance offered to our investors relies on a strong partnership between the entrepreneurs in our portfolio companies and our teams, based on shared values. Performance through collective engagement, the “Power of And”, constitutes Andera Partners’ DNA. Based in Paris, with offices in Antwerp, Madrid Milan and Munich, Andera Partners counts 120 professionals, of which 72 investment professionals. For further information please visit: www.anderapartners.com MEDIA CONTACTS
20.02.2025 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. |
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