Sanofi and EQT invest €119 million in SpliceBio to advance gene therapy

Cuatrecasas has advised Sanofi Ventures and EQT Life Sciences on a €119 million ($135 million) Series B funding round closed by SpliceBio, a pioneering biotechnology company developing gene therapies using its innovative Protein Splicing technology.

The transaction—which also included the participation of Roche Venture Fund and previous investors such as New Enterprise Associates, UCB Ventures, Ysios Capital, Gilde Healthcare, Novartis Venture Fund, and Asabys Partners—represents the largest investment round to date in a healthcare startup in Spain.

Gene therapy to treat Stargardt disease

Thanks to this transaction, Sanofi Ventures and EQT Life Sciences have contributed to a project that will advance SpliceBio’s gene therapy platform. Specifically, this will be the clinical development of its lead program, SB-007, aimed at treating Stargardt disease. This hereditary retinal disorder, caused by mutations to the ABCA4 gene, leads to progressive vision loss and blindness and currently has no approved treatments. In short, the investment will bring patients with this disease closer to a possible cure, which represents a major advance for those who until now had no therapeutic options.

SB-007 is the first gene therapy of its kind to receive regulatory approval from both the US FDA and the UK MHRA to begin clinical trials, and also has orphan drug designation in the United States and the European Union.

“The closing of this transaction marks a milestone for the life sciences ecosystem in Spain and, particularly, in the development of innovative gene therapies. We are deeply proud to have assisted Sanofi Ventures and EQT Life Sciences with an investment that drives innovation while bringing a therapeutic solution closer to patients who had not had one until now,” said Elena Cuatrecasas, a Corporate and M&A lawyer who led this transaction with the collaboration of Xavier Morera and Maria Colom.