In a positive sign for the Italian biotech startup sector, a gene therapy startup called Genenta has just secured $7 million dollars in Series A funding and is on track to lock in up to $10 million in the coming weeks.
The new venture is a spinoff of the San Raffaele hospital in Milan and was founded by CEO Pierluigi Paracchi, Italian gene therapy pioneer Luigi Naldini and Bernhard Gentner, a physician scientist. Mr. Gentner holds a position at the San Raffaele-Telethon Institute for GeneTherapy, of which Naldini is director. Investor confidence in Genenta underscores the productive ecosystem of Italian research institutions and startup ventures that leverage groundbreaking discoveries to bring disruptive innovation to the global market.
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