Genascence completed the first closing of a Series A financing totaling $10.5M. The company intends to use the proceeds to accelerate clinical development of GNSC-001, its lead program in osteoarthritis. GNSC-001 is a recombinant adeno-associated vector carrying a coding sequence for interleukin-1 receptor antagonist (IL-1Ra) designed to provide long-term inhibition of IL-1 following a single injection into the affected joint. Genascence was founded in 2017 in Palo Alto and licensed technology from Mayo Clinic, University of Florida and NYU Langone Health. The company was founded and is led by Thomas Chalberg, Ph.D., who was elected chairman of the board. As part of the financing, Brian Kotzin, M.D. and Jackson Streeter, M.D. joined Genascence’s board of directors.

Total raised

$11M

Funding rounds

1

Latest round

Series A

Latest activity

May 2022