$32 million raised for gene therapy research

GenSight Biologics announced completion of a $32 million round of financing, which will support the development of a gene replacement therapy for Leber's hereditary optic neuropathy (LHON) and an optogenetic therapy for retinitis pigmentosa (RP). The lead product for LHON is expected to enter the clinic in 2013.

"GenSight has a unique, proprietary approach to targeting the mitochondria in LHON developed by Dr. Corral-Debrinsky and Jose Sahel at the Vision Institute, and exclusive access to key intellectual property from Novartis for using optogenetics to treat RP patients," said co-founder and CEO Bernard Gilly.