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Sensorion files confidentially for potential U.S. IPO

The French hearing-loss biotech has taken the first formal step toward a potential U.S. listing, as it advances its remaining gene therapy program into the clinic.

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Why it matters: Sensorion is already listed on Euronext Growth in Paris, where it made its IPO in 2015. A U.S. listing would give the hearing-loss specialist another route to investors as it focuses its gene therapy pipeline around SENS-601.

Zoom in: The Montpellier-based company submitted a draft Form F-1 covering a potential offering of ordinary shares, including in the form of American Depositary Shares, and a listing on a U.S. exchange.

  • Sensorion has not disclosed the potential size, timing or terms of the offering.
  • The company stressed that the IPO remains subject to market and other conditions.

Backstory: Sensorion reshaped its gene therapy pipeline in June, making SENS-601 its lead program and stopping recruitment in the Phase 1/2 Audiogene trial of SENS-501. The decision followed the U.S. approval of Regeneron’s competing OTOF gene therapy, which changed the commercial outlook for Sensorion’s program in the ultra-rare indication.

  • SENS-601 instead targets hearing loss caused by mutations in GJB2, the most common genetic cause of childhood deafness. Sensorion has received clearance to begin its HearConnex Phase 1/2 trial in France and is also preparing a U.S. IND submission.

By the numbers: Sensorion raised €60 million in January, including a €20 million strategic investment from Sanofi. After dropping SENS-501 and reallocating resources, the company said its cash runway extended through the end of 2027.