Montreal-based biotechnology company enGene has closed an $11.5 million Series B investment round that will fund the development of an intestinal gene delivery platform.
The investment round was led by Forbion Capital Partners.
The funding will be used to advance the company's lead product, EG-12, into clinical trials. EG-12 is a carrier-DNA complex designed for the treatment of ulcerative colitis. The product aims to produce intestinal-localized expression of anti-inflammatory cytokine IL-10, according to the report.
"The unique technology of enGene effectively turns the gut into a protein factory, and given the strong genetic relation between IL-10 and ulcerative colitis, we expect EG-12 to provide significant benefit to IBD patients," said Forbion managed partner Sander van Deventer, MD, PhD.