We are thrilled to announce that EG427 has successfully raised USD 28,400,000 in our latest funding round—a milestone that reinforces our commitment to transforming the treatment landscape for neurological diseases. At EG427, our pioneering non-replicative Herpes Simplex Virus type 1 (HSV-1) vector platform delivers highly selective and durable expression of disease-modifying transgenes with pinpoint precision. This cutting-edge technology is at the heart of our mission to address prevalent neurological conditions with breakthrough solutions. With our lead asset, EG110A, now making significant strides following its IND clearance from the US FDA in June 2024, we are poised to revolutionize the treatment of neurogenic bladder dysfunction. Our innovative approach offers patients a comprehensive, long-term solution to bladder management challenges by overcoming the limitations inherent in current standards of care.
Based out of our headquarters and laboratories in Paris, France, where EG427 was founded in 2019, this injection of capital will propel our scientific research and development into the next phase. The new funds will be allocated toward advancing EG110A through further clinical trials, expanding our molecular biology research capabilities, and strengthening our strategic collaborations across the global biotechnology community. Our earlier achievements, including Series A funding over USD 21 million in 2021, have laid a robust foundation for our ambitious endeavors. This latest investment not only validates our innovative platform and therapeutic potential but also accelerates our mission to deliver durable, life-enhancing solutions for patients suffering from debilitating neurological diseases. We look forward to continuing our journey of transforming patient care, building on our successes, and exploring next-generation treatments that harness the full potential of our unique technology.
