GenSight Biologics announces the drawing of the first tranche of its credit agreement with the EIB – 02/06/2023 at 18:29


(AOF) – GenSight Biologics announces the drawdown of 8 million euros under the first tranche of its credit agreement with the European Investment Bank. The biopharmaceutical company specializing in gene therapies for neurodegenerative diseases of the retina and central nervous system will use the proceeds of this draw to support preparations for the marketing in Europe at the end of 2023 of its Lumevoq, aimed at the treatment of neuropathy Leber hereditary optics (NOHL).

“With the EIB Tranche B expected in Q2 2023, our funding horizon would be extended from May 2023 to early 2024. We are now focusing our resources on the commercial launch of Lumevoq in Europe expected by the end of the year. “, said Thomas Gidoin, Administrative and Financial Director of GenSight.

This contract was awarded on November 3, 2022 and will expire in November 2027.

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Loss of speed in European research

European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.



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