French startup raises $28M in Series B for ‘pinpoint’ gene therapy

Paris-based startup EG 427, pioneering a new approach called 'pinpoint' gene therapy, announced the successful closing of a $28 million (€27 million) Series B financing round.

Proceeds from the round, which was co-led by investment firm Andera Partners and French national investment bank Bpifrance, will finance a phase 1b/2a study of the company’s lead asset, EG110A, through safety and early efficacy results.

EG110A is a novel non-replicative herpes simplex virus 1 (HSV1)-derived vector carrying the sequence of the light chain of the botulinum toxin F (BoNT-F/LC) under the control of a human calcitonin gene related peptide (hCGRP) promoter. The vector platform delivers, with pinpoint precision, highly selective, durable expression of disease modifying transgenes for use in the treatment of peripheral nervous system disorders and beyond.

EG110A is being developed as a potential new treatment for neurogenic bladder dysfunction, also called NDO, in spinal cord injury patients. The approach aims to provide patients with a comprehensive, long-term solution to their bladder management, through a highly selective molecular surgery approach overcoming the significant drawbacks of the current standard of care. EG 427 received IND clearance from the U.S. FDA for its first-in-human study with EG110A in NDO in June 2024.

“EG 427’s technology has the potential to significantly disrupt current treatment paradigms. The lead program EG110A could significantly improve treatment options for a range of underserved neuro-urology indications,” said Raphaël Wisniewski, Partner at Andera Partners.