EG 427 raises 27 million euros in Series B financing

French biotech tart-up EG 427 has successfully closed a 27 million-euro ($28.4 million) Series B financing round co-led by Andera Partners and Bpifrance - as part of the InnoBio investment strategy.

The proceeds from the financing will be used to fund the Phase Ib/IIa 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 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 Dr Philippe Chambon, chief executive at EG 427.