Drug Development

Periscope: Unsuccessful on Nasdaq, GenSight finds a home on Paris exchange

Paris-based GenSight would likely have been met with open arms on Nasdaq if it had filed for an IPO when biotech offerings and gene therapies were a hot commodity. Instead, it couldn’t fly in New York. But it has found a welcome reception closer to home on the (much smaller) Paris exchange. The biotech, run by serial entrepreneur Bernard Gilly, raised $44 million, according to a report from Reuters, pricing shares at 8 euros. Its syndicate included Novartis, Abingworth, Versant and Medixci. A year ago, GenSight was in the market for a $100 million IPO in the U.S. But times have changed.

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