Gain Therapeutics secures $10 million

Gain Therapeutics is a biotechnology company focused on developing first-in-class medicines that target novel allosteric binding sites on enzymes for the treatment of rare genetic and CNS diseases. Gain’s patented and proprietary computational SEE-Tx platform identifies and validates non-classical or allosteric binding sites on enzymes and other proteins. It also aids in the discovery of compounds that can regulate these sites in order to restore its function. The new approach has the potential to make previously undruggable targets druggable.

Gain's pipeline consists of small molecule compounds designed to access difficult to reach tissues including bone, cartilage and the central nervous system, and consequently could provide new options to address diseases, which result in high morbidity and mortality and where no therapy exists today

Supported by institutional and accredited investors who contributed $10 million to Gain’s Series B financing, the startup will fund its IND-enabling studies for its two lead development programs and fund the advancement of additional pipeline candidates. Tribal Capital Markets, LLC acted as sole placement agent for the offering. Allele Capital Partners, LLC at Tribal Capital Markets, LLC was responsible for sourcing and executing the $10 million round.

Gain appoints new CEO
Concurrent with the close of the Series B financing, Gain, completed a share exchange with Gain Therapeutics, SA., a Swiss corporation, whereby GT Gain Therapeutics SA became a wholly-owned subsidiary of Gain, and Eric I. Richman was appointed as Gain’s Chief Executive Officer and a member of the Company’s Board of Directors.  Richman is a former Venture Partner at Brace Pharma Capital, has previously served as President and CEO of PharmAthene, Inc and was a part of the founding team at MedImmune. Richman also currently serves as a Director on the boards of both NeuBase Therapeutics, Inc. (NBSE) and LabConnect, Inc.

Gain Therapeutics, SA was originally established in Switzerland in 2017 with the support of its founders and institutional investors such as TiVenture (co-founded in 2017 in Lugano by TiVenture SA with other private investors) 3B Future Health Fund (previously known as Helsinn Investment Fund)and VitaTec. The company received funding support from The Michael J. Fox Foundation for Parkinson’s Research (MJFF) and The Silverstein Foundation for Parkinson’s with GBA and from the Eurostars-2 joint program with co-funding from the European Union Horizon 2020 research and Innosuisse.

(Press release/RAN)