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Sensorion announces a €50.5 million financing with participation from new and existing US and European healthcare specialist investors

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Crossover

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Cedric Moreau

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Sensorion
  • Support from existing investors Redmile Group, Invus and Soínnova Partners
  • Participation from leading US Healthcare Specialists funds including Aquilo Capital, as well as two large investment management firms
  • Financing will enable the Company to extend its cash runway through the end of Q2 2025

MONTPELLIER, France--(BUSINESS WIRE)-- Regulatory News: Sensorion (FR0012596468 – ALSEN) a pioneering clinical-stage biotechnology company which specializes in the development of novel therapies to restore, treat and prevent hearing loss disorders, today announced a €50.5 million offering reserved to specific categories of investors (the "Reserved Offering") through the issuance of 88,594,737 new ordinary shares of the Company (the "New Shares”) at a price per New Share of €0.57 (the “Subscription Price”) to the benefit of Redmile Group, Invus and Sofinnova Partners, existing shareholders, and leading US healthcare specialists funds including Aquilo Capital, as well as two large investment management firms. The settlement-delivery of the Reserved Offering is expected to take place around February 13, 2024, subject to customary conditions.

Nawal Ouzren, Chief Executive Officer of Sensorion, said: “We are delighted to announce today’s successful capital raise of EUR 50.5 million. We are very thankful to the top tier new investors who joined us and express our gratitude to our existing shareholders who have reaffirmed their support in this transaction, Redmile Group, Invus and Sofinnova Partners. This strengthened shareholder base reinforces Sensorion’s ambition to advance its pipeline of innovative therapies intended to improve the quality of life of patients suffering from hearing disorders. The capital increase will enable the Company to pursue its relentless efforts in moving forward its gene therapy programs developed in the framework of the renewed collaboration with the Institut Pasteur. Firstly, SENS-501, our lead program, which has recently received approval from competent authorities to initiate its Phase 1/2 clinical study, Audiogene, in some European countries with France as first country. We are now entirely focused on the patients recruitment. The proceeds will also benefit our second gene therapy program, GJB2-GT, allowing us to complete the preclinical IND/CTA enabling activities in order to target Clinical Trial Applications submission in H1 2025.”

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