GenSight Biologics Secures €1.5 Million Financing from Existing Investors

GenSight Biologics, a biopharmaceutical company, announced a new financing round of approximately €1.5 million. This capital increase, reserved for specific investors, involves the issuance of new shares with warrants. The subscription price is set at €0.2816 per share. This move highlights the backing of Heights Capital and Sofinnova Partners, extending operational funding until February 2025.

The funding aims to cover the company's operational needs due to a delay in their early access program, anticipated to resume in February 2025. GenSight currently lacks sufficient working capital to meet financial obligations over the next year, needing an additional €1.4 million to bridge to upcoming payments.

Shareholder structure will adjust slightly post-offering. The exercise of warrants will be possible from April 2025. This initiative underscores investor confidence in GenSight's vision for advancing gene therapies for retinal and central nervous system disorders.