Connect with us

Biotech

SparingVision closes a €44.5 million round and gives entry to Ysios Capital

SparingVision has recently closed a financing round during which it managed to raise $52.7 million (€44.5 million). The resources will enable the company to advance the development of SPVN06, its innovative therapy for the treatment of retinitis pigmentosa. The company will also finance the manufacturing and regulatory activities required to enable it to begin its first human clinical trial, scheduled for 2021.

Anthony Donaghue

Published

on

A new operation for Ysios Capital. The Spanish investment manager, specialized in the biotechnology sector, has participated in the financing round of the French company SparingVision for $52.7 million (€44.5 million), led by 4BIO Capital and the Medical Center Enterprise of the University of Pittsburgh. 

Jeito Capital, as well as the current investors Bpifrance and Foundation Fighting Blindness, have also participated in the round. This capital increase will allow the company to advance in the development of SPVN06, its innovative therapy for the treatment of retinitis pigmentosa. 

If you want to find more details about the latest financing round that SparingVision closed and at which took part Ysios Capital, download for free the Born2Invest mobile app. Our companion app brings you the latest financial news in the world so you can stay on top of the market. Don’

SparingVision’s therapeutic strategy is precisely that it is designed to prevent the degeneration of retinal cells regardless of genetic origin

In particular, the company will finance the manufacturing and regulatory activities required to enable it to begin its first human clinical trial, scheduled for 2021. The company will also expand equipment and begin operations in the United States, as confirmed by the company. SPVN06 is a gene therapy product that, using adeno-associated viruses (AAV) as a vector, is applicable to any type of retinitis pigmentosa regardless of genetic origin. It is composed of a neurotrophic factor and an enzyme that reduces oxidative stress. By acting synergistically, these compounds have the potential to slow down or stop the degeneration of light-catching cells of the retina, the main cause of blindness in patients with retinitis pigmentosa. 

SEE ALSO  What’s next for Jaguar Land Rover after the recent car recalls?

Ysisos Capital has participated in this round together with 4BIO Capital and the Medical Center Enterprise of the University of Pittsburgh, among others Retinitis pigmentosa is the most common retinal disease of hereditary origin, affecting two million patients worldwide, and is characterized by a gradual loss of vision caused by the progressive degeneration of the cells of the eye responsible for capturing light. This disease, caused by mutations in more than fifty different genes, presents difficulties for the development of conventional gene therapies and currently, there is no approved treatment. 

The key to SparingVision’s therapeutic strategy is precisely that it is designed to prevent the degeneration of retinal cells regardless of genetic origin, thus having the potential to treat the entire population affected by this disease. Karen Wagner, managing partner of Ysios Capital, comments that “we are convinced that gene therapy has great potential for the treatment of chronic debilitating diseases beyond the correction of a particular gene mutation. Ysios Capital is a management company, with offices in San Sebastian and Barcelona, specialized in investments in life sciences companies that develop disruptive therapeutic products.

Founded in 2008, Ysios Capital manages close to $414.7 million (€350 million) through three specialized life science funds and is led by an international team with experience in managing biotechnology companies. 

__

(Featured image by Skitterphoto via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in PlantaDoce, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.