GenSight Biologics S.A. announced that an independent laboratory confirmed the vg titer from the second drug substance (DS) batch of LUMEVOQ manufactured under conditions compliant with Good Manufacturing Practice (GMP) standards. As a result from the confirmation, the Company became eligible to draw down the second tranche of the bridge financing signed in August 2023 with Sofinnova Partners, Invus and UPMC Enterprises (the "Bridge Financing"). The drawdown of the second tranche will also trigger the automatic conversion of the convertible bonds from the ?6 million first tranche at a conversion price of EUR 0.7122.

This second tranche, amounting to ?4 million, will extend the Company?s cash runway to mid-December 2023. GenSight Biologics needs to seek other sources of debt, other non-dilutive or equity financing in order to supplement its working capital requirements and fund its operating expenses beyond that date and until the resumption of the early access program in France (Autorisation d?Accès Compassionnel or AAC) expected in the beginning of the second quarter of 2024. GenSight Biologics estimates that, in addition to the second tranche of the Bridge Financing, it will need approximately ?10 million to finance its activities until that date.