Gain Therapeutics announced that it has raised $10 million in a Series B financing round. Proceeds from the financing will be used to advance its two leading drug candidates and to develop new ones.
The company develops medicines for the treatment of lysosomal storage disorders – a group of hereditary metabolic disorders that are caused by malfunctions in the lysosome – as well as central nervous system diseases caused by misfolded proteins. It uses its own patented and proprietary technology platform.
Gain Therapeutics was founded in Lugano in the canton of Ticino in 2017 with the support of institutional investors, including the Ticino-based venture capital fund TiVenture. The company is now headquartered in the U.S. and is present in Lugano through GT Gain Therapeutics SA.
According to the press release, Gain Therapeutics has also completed a share exchange with GT Gain Therapeutics SA, making the latter a wholly owned subsidiary of Gain Therapeutics. Eric Richman was appointed the new CEO of Gain Therapeutics. He has extensive experience in establishing or leading American life science companies.
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