RCS - Alia Therapeutics - Alia Therapeutics Secures €4.4 Million Financing
17/04/2023 17:15
For best results when printing this announcement, please click on link below: http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230417:nRSQ4785Wa&default-theme=true RNS Number : 4785W Alia Therapeutics 17 April 2023 Alia Therapeutics Secures €4.4 Million Seed Financing Extension Led by Sofinnova Partners Funding to Accelerate Development of Innovative CRISPR-based Therapies MILAN, ITALY / ACCESSWIRE / April 17, 2023 / Alia Therapeutics (https://pr.report/42gJuwOk) , a Trento-based start-up specializing in innovative treatments for rare genetic diseases through next-generation gene editing technology, has secured a €4.4 million seed financing extension led by Sofinnova Partners (https://pr.report/Ei0nW4hJ) , a leading European venture capital firm with offices in Paris, London, and Milan. Other investors included Indaco Bio, a recently-launched biotech fund, and a group of Italian investors brought together by Banor SIM and Banca Profilo. The funds will bolster Alia's proprietary CRISPR technology and facilitate the company's expansion. Related Image (https://www.accesswire.com/users/newswire/images/749534/image.png) Alia is a spin-off of the University of Trento and was accelerated at BiovelocITA, Italy's first biotechnology accelerator co-founded in 2015 by Sofinnova Partners and serial entrepreneurs Silvano Spinelli and Gabriella Camboni. The work of Alia's scientific founder, the virologist Anna Cereseto, was named in January among the seven technologies to watch in 2023 by Nature (https://pr.report/ZUE6oPRw) . "While CRISPR-Cas9 has proven extremely useful for genome editing, there is still room to improve more compact on target strategies to a wide variety of genes while preserving activity and specificity and ultimately increasing safety for human therapeutic purposes," said Paola Pozzi, Partner at Sofinnova Partners. "With these new funds, Alia will further strengthen its patent portfolio and develop its innovative platform for CRISPR-based medicine, enabling novel gene editing tailored strategies to overcome current limitations of genome editing to bring more therapies to patients with underserved and currently untreatable diseases and conditions." "Alia's platform is already addressing the challenge of effectively screening for highly specific Cas9 variants," Silvano Spinelli, Chairman of the Board of Directors said. "This funding will help the company build its team and further boost and advance therapeutics based on gene editing into a new era." About Alia Therapeutics Alia Therapeutics is an Italian biotech start-up whose mission is to develop innovative treatments for incurable genetic diseases using gene editing technology. The company wasfounded in October 2018 by Anna Cereseto and a group of researchers from CIBIO, the biotech department of the University of Trento, who discovered the core CRISPR technologies exploited by the start-up. About Sofinnova Partners Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future. Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: sofinnovapartners.com (https://pr.report/HGEWti6Z) . For more information about Sofinnova Telethon, visit https://sofinnovapartners.com/strategy/telethon (https://pr.report/uhJeQ5bY) Contacts Silvano Spinelli Chairman of the Board of Directors, Alia Therapeutics info@aliatx.com (mailto:info@aliatx.com) Tel: +39 0461 283917 SOURCE: Alia Therapeutics This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com (mailto:rns@lseg.com) or visit www.rns.com (http://www.rns.com/) . Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy) . END NRAZDLFFXZLEBBD