September 6, 2004.
Genable Technologies, an early stage Irish biotechnology company, has raised E1.1m from a venture capital group.
The investment round was led by Delta Partners. Genable is developing gene-based therapies for the treatment of incurable inherited diseases. It will focus on "dominant negative" diseases such as retinitis pigmentosa, which causes blindness. The company's technology platform provides for the suppression and replacement of genes. Developed from over ten years of research, it is now entering into pre-clinical studies.
The Trinity College, Dublin-based firm is developing novel therapeutics using the emerging technologies of RNA interference which may be used to treat more than 100 diseases such as RP, brittle bone disease and Huntington's chorea.
Dr. Gearoid Tuohy, CEO of Genable said: "We are delighted to have attracted this significant investment from Delta Partners, who bring both expertise in the life sciences sector and considerable early-stage investment experience to Genable. Our technology has arisen from the research activities of Drs. Jane Farrar, Paul Kenna and Prof. Peter Humphries at Trinity College, Dublin. Delta's investment underscores the innovative technology and market potential of the company's gene suppression and replacement strategy and we look forward now to generating the data required to reach the next stage of development".
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