Somagenetix, a biotech company based in Zurich, has successfully raised 10 million Swiss francs in a Series A financing round.
The funding round included participation from notable investors such as Schroders Capital, Zürcher Kantonalbank, and Verve Ventures, with Vi Partners leading the investment.
The capital will be used to advance Somagenetix's gene therapy candidate, SGX-001, into clinical trials for the treatment of chronic granulomatous disease (CGD). CGD is a condition characterized by inherited genetic defects that affect the function of phagocytes, a type of white blood cell.
The current standard treatment for CGD involves stem cell transplantation, which is often limited by the availability of suitable donors. Somagenetix's gene therapy approach could provide an alternative treatment option for CGD patients.
The project has received support from the Wyss Zurich Translational Center, highlighting the scientific backing behind the therapy. Janine Reichenbach, co-founder of Somagenetix, expressed optimism about the company's progress and the successful preclinical validation of their lentiviral gene therapy platform for phagocytic diseases.
The University of Zurich has developed a best-in-class platform that is expected to enable clinical applications of SGX-001 by 2026. Andrin Oswald has been appointed as the new CEO of Somagenetix, bringing extensive experience to the role. He believes that the validation of their gene therapy technology will not only benefit CGD patients but also unlock potential treatments for other severe diseases related to phagocyte defects.
The investment from Vi Partners is seen as an endorsement of Somagenetix's innovative approach to gene therapy and a commitment to the future of personalized medicine. By leveraging advanced lentiviral gene therapy technologies, Somagenetix aims to improve patient outcomes on a global scale.
The focus on personalized medicine is becoming increasingly important in the biotech industry, and companies like Somagenetix are at the forefront of this shift. Their advancements have the potential to impact the treatment of various genetic disorders and diseases characterized by immune deficiencies.
The successful financing round and strategic appointments within Somagenetix demonstrate confidence in the company's vision and its potential to disrupt traditional treatment approaches. As the clinical phase for SGX-001 approaches, stakeholders in the biotech and financial sectors will closely monitor developments to see how this innovative therapy can improve the lives of CGD patients and beyond.