February 19, 2019 02:30 AM Eastern Standard Time
LUGANO, Switzerland--(BUSINESS WIRE)--GT Gain Therapeutics SA today announces that it has closed a €2.5 Million series A financing with VitaTech S.A. (€1.1Mio), Helsinn Investment Fund S.A. (€1Mio), and with existing investor TiVenture S.A. (€0.4).
Gain Therapeutics SA is a private company, based in Lugano (Switzerland) and with a branch in Barcelona, that exclusively licensed an advanced computational technology (Site-directed Enzyme Enhancement Therapy, SEE-Tx®) used to identify next generation brain-penetrant non-competitive pharmacological chaperones. SEE-Tx® applicable to all diseases with a known genetic mutation in target proteins, allows the identification of brain-penetrant small molecules that provide a gain-of-function of misfolded proteins. Gain Therapeutics has already identified molecules for the treatment of a group of metabolic disorders called lysosomal storage disorders and some chronic degenerative diseases of the nervous system.
Prof. Xavier Barril (CSO) commented: “The closing of this first part of series A funding will allow us to further support the development of our most advanced programs and namely GM1 Gangliosidosis, Gaucher Disease and GBA-related Parkinson Disease. And as such will accelerate the identification of clinical candidates to be tested in first-of-human studies.”
Dr. Lorenzo Leoni (CEO, Co-Founder, Managing Partner of TiVenture) added: “VitaTech, Helsinn Investment Fund and TiVenture will also bring drug development, pharmaceutical development, global licensing and partnering expertise that will contribute to bringing customized solutions to patients, where high unmet medical needs are still very much present across the globe”.
Riccardo Braglia (Helsinn Group Vice Chairman), commented: “Gain Therapeutics, with a flexible and powerful platform technology, offers huge potential to identify orally available therapies for lysosomal storage and CNS disorders. It fits perfectly in the portfolio companies with state-of-the-art technologies of the Helsinn Investment Fund”.
Roberto Barzi (Director VitaTech) added: “We are delighted for the closing of our first investment in Gain Therapeutics that, with a powerful computation modeling technology supporting a traditional drug discovery approach, fits perfectly within our strategy to invest in companies positioned at the convergence of Healthcare and Technology”.
About Gain Therapeutics SA
Gain Therapeutics is a preclinical stage biotech company developing a class of next generation brain-penetrant non-competitive pharmacological chaperones for the treatment of devastating diseases using the proprietary SEE-Tx® technology. The company has several discovery programs in lysosomal storage diseases and CNS indications at various stages of development, all of which validate the platform and offer significant partnering opportunities. Gain Therapeutics was established in 2017 in Lugano by experienced biotech and pharma entrepreneurs. It was initially financed by TiVenture.
For more information: www.gaintherapeutics.com
About TiVenture SA
TiVenture is a seed investment fund owned by the Fondazione Centenario Banca Stato (Switzerland) that invests in early stage companies with innovative technologies and high growth potential, principally in southern Switzerland. TiVenture is actively looking and ready to support exceptional founders and entrepreneurs developing scalable products for the global market. TiVenture has a diversified portfolio of companies and is mainly active in the life science, medical, high-tech and IT sectors.
For more information, visit www.tiventure.ch
About Helsinn Investment Fund S.A., SICAR
The Helsinn Investment Fund is focused on early-stage investments in areas of high unmet patient need. Backed by the Helsinn Group, and guided by Helsinn’s core values of quality, integrity and respect, Helsinn Investment Fund aims to help companies with innovative technologies to transform new ideas into commercial solutions with the potential to impact health-related quality of life of patients.
Drawing on Helsinn’s over 40 years of investment into research and development and commercial expertise, the investment fund selects companies with technologies in a range of areas including cancer therapeutics and diagnostics, cancer supportive care, metabolic and gastrointestinal disorders, and dermatology conditions.
For more information, visit www.helsinninvestmentfund.com
About VitaTech SA
VitaTech invests in European early stage and growth-phase high-tech companies positioned at the convergence of healthcare and technology. VitaTech is funded by the Zambon Family and by other European ultra-high-net-worth private investors and family offices.