GeneQuine Biotherapeutics Raises Over Euro 9M
Summary
The round was led by Pacira BioSciences, Inc. (Nasdaq: PCRX), with participation from High-Tech Gründerfonds, Noshaq SA, and Samum Vermögensverwaltungs GmbH. The non-dilutive funding consists of a convertible loan provided by Pacira BioSciences, Inc. and Samum Vermögensverwaltungs GmbH of in total €2.75m and a grant by the investment bank of the state of Brandenburg (Germany) of €0.9m. Led by Kilian Guse, CEO, GeneQuine Biotherapeutics is a biotech company focused on the development of innovative gene therapies for treatment of musculoskeletal disorders. GeneQuine’s aim is to use its gene therapy platform to established sustained production of therapeutic proteins locally in the tissues or organs where they are needed. In 2017, Flexion Therapeutics, Inc. acquired GeneQuine’s then-lead program for osteoarthritis, which is based on the same gene therapy vector technology as GQ-303 and is currently in clinical Phase 1 testing.