French Gene Therapy Co Completes Funding

Neurotech, a French gene therapy company, has announced the completionof a private offering of 15 million French francs ($3 milion). The funds will be used to carry out the firm's first preclinical development program in the treatment of brain tumors, and to finance continuing research in new cellular vectors for cell-based gene therapy in central nervous system disorders.

Investors subscribing to the offering included four major European venture capital funds, CDC Innovation, Atlas Venture, Sofinnova and Banexi Ventures. Raffy Kazandijan of CDC Innovation said: "the investors are all extremely impressed by the team. Neurotech is not just another gene therapy company. It has an outstanding portfolio of new nonviral vectors which will open new avenues in gene therapy."

Neurological Focus Neurotech was formed by two research teams coming from French public research institutes specializing in molecular and cellular biology and neurobiology. Its core technology is based on genetically-modified cells which carry potent therapeutic proteins into the brain. This enabling technology addresses a broad scope of major neurological diseases, which lack effective treatment, said the company.