French Biotech SparingVision Raises a Large Sum of Money

French biotech company SparingVision, which specializes in innovative therapies for retinal diseases, has raised €75 million to develop its two main products, it said Wednesday, September 14th. Founded in June 2016, SparingVision, an offshoot of the Vision Institute in Paris, will use the funds to finance the first clinical studies of its two main gene therapy treatments, one of which is scheduled to start a trial by the end of the year.

The latter, SPVN06, its most advanced potential treatment, is aimed at combating retinitis pigmentosa, a degenerative genetic disorder of the eye. This inherited disease, which can be caused by mutations in more than 70 genes, is characterized by a progressive and gradual loss of vision leading to blindness. It affects two million patients worldwide, including some 40,000 in France.

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SparingVision’s initial trial results for SPVN06 are expected in 2023

With its treatment, SparingVision seeks to provide retinal photoreceptors with the proteins they need to survive, by having them manufactured by cells other than the patient’s own deficient cells, the company’s CEO Stéphane Boissel told AFP. “This treatment should work regardless of the genetic mutation that caused the disease in the first place, unlike treatments proposed by competitors,” Boissel said. Only one treatment is currently marketed for this pathology, Luxturna, acquired by the Swiss group Roche and intended for patients with a specific genetic mutation.

Initial trial results for SPVN06 are expected in 2023, with first efficacy data expected in 2025. SparingVision is also developing SPVN20, a second gene therapy drug candidate that is independent of gene mutations. This one aims to restore vision in patients with advanced forms of retinitis pigmentosa and is expected to enter clinical trials in 2024.

In addition, the funds raised will accelerate the development of SPVN50, a genome-editing drug candidate developed in partnership with Intellia Therapeutics, a US biotech company specializing in CRISPR/Cas9 molecular scissors. SparingVision has secured funding from French and American funds Jeito Capital and UPMC Enterprises, 4BIO, Bpifrance, RD Fund, the Fighting Blindness Foundation’s venture capital fund, and Ysios Capital. The biotech company had already raised €60 million in a previous transaction.

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(Featured image by newarta via Pixabay)

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