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Gain Therapeutics raises USD 11 million in public funding to advance its neurodegenerative drug
Precision Medicine
Jun 14, 2024
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Precision Medicine

Precision Medicine

Jun 14, 2024

Gain Therapeutics raises USD 11 million in public funding to advance its neurodegenerative drug

Funding

  • Gain Therapeutics has announced its public offering of 7,116,547 common shares, priced at USD 1.35 per share, as well as pre-funded warrants to purchase 1,031,602 shares at a price equal to the value of a share of common stock in the offering, minus USD 0.0001. The exercise price of each warrant is USD 0.0001 per share and can be exercised immediately. The transaction is expected to yield approximately USD 11 million. The offering is due to conclude on June 17, 2024 subject to meeting closing conditions.

  • The company plans to allocate the proceeds toward the clinical and non-clinical progression of its key candidate GT-02287, a drug targeting neurodegenerative diseases, as well as for general corporate purposes.

  • Gain Therapeutics is a clinical-stage biotechnology company focused on developing novel small-molecule therapeutics. Using its proprietary Magellan platform, Gain Therapeutics identifies allosteric binding sites on disease-related proteins, allowing the discovery of drugs that modulate protein function. The company's lead candidate, GT-02287, is in Phase I clinical trials for the treatment of GBA1 Parkinson’s disease (GBA1-PD). This small molecule therapy aims to restore the function of glucocerebrosidase (GCase), a lysosomal enzyme impaired by GBA1 mutations, which is a major genetic risk factor for Parkinson’s disease​.

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