Sensorion (Euronext Growth Paris:ALSEN), a clinical-stage biotechnology company that specialises in hearing loss disorders, announced on Friday a EUR50.5m reserved offering, supported by existing investors Redmile Group, Invus and Sofinnova Partners, along with new US and European healthcare specialist investors, including Aquilo Capital and two large investment management firms.

Nawal Ouzren, Sensorion CEO, expressed gratitude to the investors, highlighting the company's plans to advance its gene therapy programmes, notably SENS-501 and GJB2-GT, with a focus on patient recruitment for the Phase 1/2 Audiogene clinical study.

The net proceeds, approximately EUR47m, are expected to fund R&D activities through Q2 2025, covering GJB2-GT CTA submission and initial Audiogene trial cohorts.

Sensorion anticipates admission of the new shares to trading on Euronext Growth in Paris by 13 February 2024.