ZURICH, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Somagenetix AG, a pioneering biotech company dedicated to revolutionizing gene therapy for phagocyte disorders, announced today the initial closing of its Series A financing round, raising CHF 10 million. The round was led by Vi Partners, a renowned venture capital firm specialized in life sciences and technology investments. Among others, existing investors Schroders Capital, Zürcher Kantonalbank and Verve Ventures also participated to this financing round.
The funds will enable Somagenetix to advance its leading gene therapy-candidate, SGX-001, into a clinical trial for the treatment of p47 Chronic Granulomatous Disease (CGD). CGDs are a group of inherited immunodeficiencies with recurrent life-threatening infections. The condition is caused by genetic defects leading to functional impairments of phagocytes, a type of white blood cells, rendering them unable to kill pathogens. The current standard of care is stem cell transplant, which is only available upon finding an immunologically compatible donor. The preclinical development of p47-CGD gene therapy is currently supported by the Wyss Zurich Translational Center.
Prof. Dr. Janine Reichenbach, co-founder of Somagenetix, said: "To date, my team at the University of Zurich has developed a best-in-class lentiviral gene therapy ...
