Lysogene obtains 5 million euros in non-dilutive financing
PARIS–(COMMERCIAL THREAD) – Regulatory news:
Lysogene (FR0013233475 – LYS) (Paris: LYS), a phase 3 gene therapy platform company targeting diseases of the central nervous system (CNS), today announces that it has obtained non-dilutive funding of 5 million euros from the BRED in the form of a guaranteed loan (PGE). This financing extends the Company’s cash flow track until Q2 2022, compared to the end of Q4 2021 previously.
This loan is 90% guaranteed by the French State with an initial maturity of 12 months and a 5-year amortization option.
Stéphane Durant des Aulnois, Chief Financial Officer of Lysogene declared: “This financing strengthens the Company’s cash position at a crucial time in its development with the ongoing Phase 2/3 study evaluating LYS-SAF302 in Sanfilippo disease, the initiation of the clinical trial with LYS-GM101 in GM1 gangliosidosis and the development of other preclinical programs. We would like to express our gratitude to BRED, which has supported us from the start and continues to show its confidence in the development of the Company through this funding.
Lysogene is a gene therapy company focused on the treatment of orphan diseases of the central nervous system (CNS). The Company has built a unique capability to enable the safe and effective delivery of CNS gene therapies to treat lysosomal diseases and other genetic disorders of the CNS. A phase 2/3 clinical trial in MPS IIIA in partnership with Sarepta Therapeutics, Inc. is underway and a phase 1/3 clinical trial in GM1 gangliosidosis is in preparation. In accordance with the agreements signed between Lysogene and Sarepta Therapeutics, Inc., Sarepta Therapeutics, Inc. will hold the exclusive commercial rights for LYS-SAF302 in the United States and in markets outside Europe; and Lysogene will retain the commercial exclusivity of LYS-SAF302 in Europe. Lysogene is also collaborating with an academic partner to define the development strategy for the treatment of fragile X syndrome, a genetic disease linked to autism. www.lysogene.com.
This press release may contain certain forward-looking statements, particularly about the Company’s progress on its Phase 2-3 clinical trial and cash flow track. Although the Company believes its expectations are based on reasonable assumptions, all statements other than statements of historical fact included in this press release regarding future events are subject to (i) change without notice, (ii) factors beyond the Company’s control, (iii) clinical trial results, (iv) increased manufacturing costs and (v) potential claims on its products. These statements may include, but are not limited to, any statement preceded, followed or including words such as “target”, “believe”, “expect”, “aim”, “intend”, ” may “,” anticipate “,” estimate, “” plan “,” goal “,” project “,” will “,” may have “,” likely “,” should “,” should “,” could “and other words and terms with similar meanings or the negative thereof. Forward-looking statements are subject to inherent risks and uncertainties beyond the control of the Company that could cause the actual results, performance or achievements of the Company. Company are materially different from the expected results, performances or achievements expressed or implied by these forward-looking statements. A more detailed list and description of these risks, uncertainties and other risks can be found in the Company’s regulatory documents with the Autorité des marchés financiers. financial markets, including in the e document 2019 universal registration, registered with the French Markets Authority on April 30, 2020, under number D.20-0427, and future Company filings and reports. In addition, these forward-looking statements speak only as of the date of this press release. Readers are cautioned not to place undue reliance on these forward-looking statements. Except as required by law, the Company assumes no obligation to update these forward-looking statements publicly, or to update the reasons why actual results could differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. If the Company updates one or more forward-looking statements, no inference should be drawn whether or not it will make further updates with respect to such or other forward-looking statements.
This press release has been prepared in French and English. In the event of any discrepancy between the two texts, the French language version will prevail.