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.
The new round was led by Qianzhan Investment Management of China and Fidim, a holding company for Italy’s Rovati family. The Rovati family became investors after the sale of their pharmaceutical company Rottapharm Madaus to Sweden’s Meda AB for €2.3 billion in 2014. Representatives of both Qianzhan and Fidim will have observer status on Genenta’s board of directors. Other investors, including the Bormioli and Fumagalli families, also participated in the round.
Genenta’s technology involves the use of engineered autologous haematopoietic stem cells to deliver immunomodulatory molecules to tumour-infiltrating monocytes and macrophages. The company says that its technology is applicable to both haematological cancers and solid tumours.
Genenta announced the financing on 11 September 2019.
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