Montpellier biotech Sensorion announces a fundraising of €50 million

Nawal Ourzen, directrice générale de Sensorion. DR – DR

The Montpellier research company Sensorion, which develops treatments linked to the inner ear, has signed a new fundraising campaign worth 50 million euros, to finance its future developments.

Already listed on the Euronext Grow stock market, the Montpellier biotech scale-up Sensorion announces a fundraising of more than 50 M€ (50.5 M€), from funds already present or new to its capital. The scale-up, which is working on treatments currently being developed for deafness problems linked to the inner ear, intends to finance its research with this fundraising until the second quarter of 2025, while its last The fundraising date is summer 2023. The company's general director, Nawal Ourzen, explains the reasons and objectives of this new fundraising.

Also read: Montpellier: Sensorion receives the European green light for clinical studies

"This new levy, which brings approximately 100 M€ the funds invested in our company since 2017 will allow our company to finance its R&D until the 2nd quarter of 2025, explains Nawal Ourzen. We are currently at a pivotal period in our development, as we are preparing to recruit patients for the first clinical study of our flagship treatment, SENS-501, and for which we will publish the first data by the second half of the year. of this year."

Two gene therapy programs under development

The company is leading a second research program, GJB2, which combats the most significant cause of genetic deafness at birth, which will also benefit from these funds. &quot ;For this one, notes the manager, we are in the preliminary phase before the request for clinical authorization, which should take place in the first half of 2025. We We are currently carrying out all toxicity assessment studies, to support clinical studies."

Also read:Montpellier: Sensorion at the forefront against tinnitus

Nawalk Ourzen underlines the structuring and the difficulty of carrying out this lifting. "Our historic shareholders, the Redmile Group, Invus and Sofinnova Partners funds, have renewed their confidence in us by reinvesting. These companies were joined by new investors specializing in the healthcare sector, including Aquilo Capital, as well as two major investment management companies."

More difficult fundraising in the current context

The current crisis, both geopolitically and affecting the tech sector, has made this fundraising more difficult than previous ones. "Investors have often been called upon to contribute until now, notes Nawal Ourzen. They therefore prefer to protect their investments, by refinancing companies that they already have in their portfolio. Our new investors are therefore mainly American, who fortunately looked at French files."

Also read: Sensorion, the biotech that wants to treat hearing

The structure, which recently confirmed a partnership with the Pasteur Institute for its gene therapy research programs, nevertheless ensures that it does not mix with traditional players in the "deep tech", such as traditional funds, the BPI or the France 2030 development plan. "Health, and research in particular, is a complex sector , which most actors do not master. We therefore prefer to approach players specializing in health only."

I subscribe to read more