EG427 is excited to announce that we have successfully raised USD 27 million in our latest funding round—a remarkable milestone that underscores both our innovative vision and the growing confidence from our investors. Founded in 2019 and headquartered in Paris, France, EG427 has been at the forefront of neurotherapeutics by harnessing our unique, non-replicative Herpes Simplex Virus type 1 (HSV-1) based vector platform. This groundbreaking technology delivers, with pinpoint precision, a highly selective and durable expression of disease modifying transgenes, addressing critical challenges in prevalent neurological diseases. Our lead asset, EG110A, has garnered significant attention and recently achieved IND clearance from the US FDA in June 2024. This achievement not only validates our revolutionary approach to treating neurogenic bladder dysfunction but also represents a pivotal step towards providing patients with a comprehensive, long-term solution that overcomes the limitations of current standard of care.
The new funds will be strategically deployed to advance the next phase of our clinical development program, optimize our vector platform, and expand our research and manufacturing capabilities. By bolstering these critical areas, we aim to accelerate the delivery of transformative therapies to patients who have long awaited innovative solutions for complex neurological disorders. Additionally, this financial boost reinforces our commitment to scientific excellence and our relentless pursuit of breakthroughs that redefine therapeutic possibilities. With this capital infusion, EG427 is well-positioned to not only expand our product pipeline but also to solidify our standing as a leader in the field of neurotherapeutics, ultimately improving the quality of life for countless patients worldwide.
