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Genenta raises €13.2 million for gene therapies

Country

Italy

The Italian gene therapy company Genenta Science SRL has raised €13.2 million in a new financing round to progress novel treatments for multiple myeloma and glioblastoma that deliver immunomodulatory molecules into the tumour environment. The company has received regulatory approval to start Phase 1/2 clinical trials in both cancer indications.

The new financing brings total capital raised by the company up to €30.2 million since its founding in 2014 as a spin-out from the San Raffaele Hospital in Milan.

Academic collaborations for Crescendo

Country

United Kingdom

Crescendo Biologics Ltd has entered into collaborations with two UK universities to accelerate development of its lead product for tumours expressing prostate-specific membrane antigen (PSMA). The product, CB307, is due to enter the clinic in 2020.

Separately Crescendo appointed Steward Kay, formerly of GlaxoSmithKline Plc, as its chief business officer.

New EU drug discovery fund launched

Country

Belgium

The European Investment Fund (EIF), together with institutions in Germany and Austria, has launched a new fund to support early-stage drug discovery projects sourced predominantly from academic institutions in both countries.