GenSight Biologics, a clinical-stage biopharma company focused on gene therapies for retinal neurodegenerative diseases and central nervous system disorders, announced it has completed a fundraising totaling approximately €1.7 million.
The financing, valued at €1,694,715.53, was subscribed by three existing shareholders: Heights Capital, Invus, and UPMC Enterprises. The transaction follows several capital raises completed by the company over the past year, including a €4.5 million private placement in July 2025, a €3.7 million fundraising in October, a €2 million fundraising in November, and a €2.9 million fundraising carried out across December and January.
The latest financing was structured through the issuance of 14,153,928 ordinary shares, 4,270,464 pre-funded warrants, and 18,424,392 investor warrants. Investors could subscribe to units consisting of shares with attached investor warrants or pre-funded warrants paired with investor warrants.
The issue price for the share-and-warrant units was €0.0943, representing a 7 percent discount to the company’s five-day volume-weighted average share price on Euronext Paris prior to pricing. Pre-funded units were priced at €0.0843. The investor warrants carry an exercise price equivalent to €0.1308 per share, while the pre-funded warrants have an exercise price of €0.01 per share. If all warrants are exercised, the company could receive an additional €1.25 million in gross proceeds.
GenSight said the proceeds will provide a cash buffer while the company begins generating revenues through early access programs for its gene therapy candidate GS010, also known as LUMEVOQ, which is being developed to treat Leber hereditary optic neuropathy. The company recently received approvals for Named Early Access applications under the French AAC program, with the first treatments scheduled during March and initial payments expected before the end of the month.
According to the company, revenues from these early access programs are expected to support operational continuity through 2026. The new funding is intended to supplement this revenue base and help the company continue preparing for the RECOVER Phase III clinical trial.
Following the issuance of the new shares, GenSight’s share capital will rise to approximately €5.88 million, representing 235,044,326 shares. If all pre-funded warrants and investor warrants are exercised, the total share count could increase to 248,526,986 shares.
The newly issued shares subscribed by Invus and Heights Capital are expected to begin trading on Euronext Paris on March 12, 2026. The warrants themselves will not be listed for trading, though shares issued upon exercise of the warrants will be admitted to trading as they are created.
GenSight Biologics is developing gene therapies designed to preserve or restore vision for patients with severe retinal diseases. Its lead candidate, GS010 (lenadogene nolparvovec), is currently in Phase III clinical development for the treatment of Leber hereditary optic neuropathy, a rare mitochondrial disease that can cause irreversible blindness in teenagers and young adults.
KEY QUOTES:
“Today’s news marks a significant operational milestone for GenSight Biologics. With individual patient applications recently approved under the French AAC program and treatments scheduled this month, we are entering a period of clinical delivery across multiple geographies — France, Israel, and the United States. These early access attest to our ability to execute. We are confident about our path forward, and last night’s fundraising reflects our commitment to extending our cash runway and advancing to the start of the RECOVER Phase III trial.”
Laurence Rodriguez, Chief Executive Officer Of GenSight Biologics
“The approval of AAC applications announced yesterday, with first payments expected before the end of March, has a direct bearing on the cash horizon we announced in January. In the aggregate, revenues from our early access programs should ensure operational continuity through 2026. Tonight’s fundraising complements this foundation, giving us the financial flexibility to pursue both dilutive and non-dilutive financing as we relaunch our Phase III program.”
Jan Eryk Umiastowski, Chief Financial Officer Of GenSight Biologics
