NEW YORK, Dec. 3 – French genomics company ExonHit Therapeutics said Monday it raised 30 million euros ($26.8 million) in a third round of private financing.
The Paris-based company, which develops therapeutics and diagnostics based on the analysis of alternative splicing events, said that Dresdner Kleinwort Capital of the UK, Danske Bank of Denmark, and France’s LCF E. de Rothschild and Sudinnova participated in the financing round.Â
Previous investors BNP-Paribas' Banexi Venture III, CDC Innovation, AGF Private Equity, Oxford Bioscience Partners, and Sofinnova Partners also contributed.Â
ExonHit Therapeutics' previously raised 14 million in a second round of financing that closed a little more than one year ago.Â
The company said it would use the latest cash infusion to further develop its therapeutics and diagnostics and to bring them through clinical development.Â
The company is currently developing treatments for Amyotrophic Lateral Scleroris, or Lou Gehrig’s disease, and other central nervous system afflictions.
Founded in 1997, ExonHit Therapeutics has a US subsidiary in Gaithersburg, Md. The company expects to generate revenues from products and services and anticipates reaching profitability in 2004.