Genenta cashes in 7 mln euros in a Series B investment round, reaching 17 mln euros in total capital raised

Genenta Science, a biotech company committed to the development and commercialization of a hematopoietic stem cell gene therapy for tumors treatment, cashed in 8.4 million dollars (or 7 million euros) in a new investment round (Series B) led by Italian, British, and Swiss private investors, family offices and business angels, Series A investors and Board Members (scarica qui il comunicato stampa).

Genenta banked a Series A 10 million euros financing in March 2015 raised among a group of private investors gathered by Banca Esperia among its private banking clients (see here a previous post by BeBeez). So the company has been raising a total of 20.4 million dollars (or 17 million euros) since its foundation.

Guido Guidi was appointed as a Board Member. D in Genenta, being a former Head of Pharma Region Europe and previously as Head of Oncology Europe at Novartis where he developed and launched several blockbuster products (Cosentyx, Entresto, Lucentis, Gilenya, Xolair, Ultibro, Seebri, Galvus, Exforge, Zometa, Femara e Glivec). He was also a member of the Novartis Pharma Executive Committee (PEC) and Chairman of the Novartis European Executive Committee (EEC).

Prof. Kenneth C. Anderson is now part of the Scientific Advisory Board led by Luigi Naldini, Genenta’s co-founder, director of the Regenerative Medicine Division of the San Raffaele Hospital and director of theIstituto San Raffaele Telethon per la Terapia Genica. Prof. Anderson directs the Lebow Institute for Myeloma Therapeutics and Jerome Lipper Myeloma Center at DanaFaber Cancer Institute. And he is the Kraft Family Professor of Medicine at Harvard Medical School and the President Elect of ASH – American Society of Hematology.

Managed by chairman and ceo Pierluigi Paracchi, Genenta Science was founded by Mr. Paracchi himself together with Prof. Naldini and Bernhard Gentner, ematologist and medical researcher at the San Raffaele Hospital, and by the San Raffaele Hospital itself.

“We’ve banked enough cash to open a second tumor indication in addition to multiple myeloma”, Mr. Paracchi said, adding that “the clinic experimentation will start next year”.

Genenta opened its new offices in Alexandria LaunchLabs, the New York City’s premier startup platform located at the Alexandria Center for Life Science, with the aim to explore the US market.