Sensorion has received welcome news. After a 2023 marked by investor skepticism, the Montpellier-based biotech company – which, like many of its peers, has suffered from market uncertainty in recent months – announced on Wednesday, January 28, that it has secured €60 million in funding through a capital increase.
This fresh capital will allow the French biotech – which was founded in 2009 and which specializes in the development of gene therapies to restore hearing in people with congenital deafness – to continue its pioneering work. The company, which has been listed on Euronext since 2015, is bringing in the French pharmaceutical group Sanofi as a new shareholder. After investing €20 million, Sanofi will hold 13.9% of Sensorion’s capital.
While Sanofi’s investment is modest compared to its overall revenue (€41.1 billion in 2024), its arrival gives the young company greater visibility. “It has allowed us to launch a much larger fundraising round, with highly specialized American investors, in addition to the support of our existing backers,” explained Nawal Ouzren, the CEO of Sensorion. At market close on Wednesday, shares in the biotech – which have been slumping for a year – jumped 22%, pushing its valuation above €100 million.
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