GeNeuro raises 6 million euros in a private placement

With offices in Geneva and R&D facilities in Lyon, France, GeNeuro is on the mission is to develop safe and effective treatments against neurological disorders and autoimmune diseases, such as multiple sclerosis, by neutralizing causal factors encoded by HERVs, which represent 8% of human DNA. It has rights to 17 patent families protecting its technology.

The company has today announced the publishing of results from its CHANGE-MS and ANGEL-MS clinical studies on its drug candidate temelimab in Multiple Sclerosis. The study, held at the Karolinska Institutet /Academic Specialist Center in Stockholm, assessed the safety and efficacy of temelimab on MRI markers of inflammation and neurodegeneration. These results put temelimab in a unique position against neurodegeneration in MS, aiming to serve the majority of patients whose disability continues to progress despite being treated with effective therapies against relapses. Temelimab’s specific mode of action, in neutralizing pathogenic HERV-W ENV, and its excellent tolerability could open the door to new combination approaches to address both relapses and neurodegeneration in MS.

The net proceeds from a recent private placement (see details), which resulted in €6 million, will primarily allow GeNeuro’s to fund its operations and extend its financial visibility until the end of 2022 in order to facilitate Phase 3 planning and partnering discussions for temelimab. It will also support continuing preclinical research on the potential of temelimab for Post-COVID patients with neuropsychiatric affections, notably through the partnerships with CIRI and Fondation FondaMental.

Jesús Martin-Garcia, CEO of GeNeuro, states that: “the capital will also support continuing preclinical research on the potential of temelimab for Post-COVID patients with neuropsychiatric affections, notably through the partnerships with the CIRI (International Center for Infectiology Research, France) and Fondation FondaMental, which we announced on July 5, that seek to speed development of diagnostic and therapeutic solutions.”

(Press release)