MONTPELLIER, France - Sensorion (FR0012596468 - ALSEN) a pioneering clinical-stage biotechnology company which specializes in the development of novel therapies to restore, treat and prevent hearing loss disorders, announced a EUR60 million offering reserved to specific categories of investors through the issuance of 214,285,714 new ordinary shares of the Company at a price per New Share of EUR0.28 to the benefit of Sanofi for EUR20 million, and Redmile Group, Artal, which is advised by Invus, and Sofinnova Partners, existing shareholders, and other investors including Cormorant Asset Management, Coastlands Capital and Sphera Healthcare, for EUR40 million.
The settlement-delivery of the Reserved Offering is expected to take place around January 30th, 2026, subject to customary conditions.
Sanofi's investment and participating investors will drive the progression of the genetic medicine pipeline, notably SENS-601 (GJB2-GT). This funding supports key catalysts for the program which targets hearing loss associated with GJB2 mutations, including CTA/IND approval and the enrollment of the first clinical cohort.
SENS-601 (GJB2-GT) will be the Company's second gene therapy program to enter the clinic, following SENS-501, which entered clinical development in 2024. The program targets GJB2 mutations, which are responsible for a significantly larger patient population, accounting for approximately 50% of autosomal recessive non-syndromic congenital hearing loss and implicated in early-onset forms of severe presbycusis in adults.
Nawal Ouzren, Chief Executive Officer of Sensorion, said: 'We welcome Sanofi's new strategic investment in Sensorion to advance our pipeline of innovative therapies intended to improve the quality of life of patients suffering from hearing disorders. We are very thankful to the top-tier new investors who joined us and express our gratitude to our existing shareholders who have reaffirmed their support in this transaction. With the additional capital, the Company plans to intensify the ongoing efforts to progress the research and development of SENS-601, including the advancement of the program into its clinical development, and to continue the clinical development of SENS-501 program. This marks an important milestone for the Company's corporate growth trajectory and for patients suffering from a variety of hearing loss disorders.'
Expected next clinical milestones
Q1 2026 - SENS-501: Cohort two 6-months follow-up data of Phase 1/2 Audiogene trial
Q1 2026 - SENS-401 in Cisplatin-induced Ototoxicity: Notoxis Phase 2a data readout
Q1 2026 - SENS-601 (GJB2-GT): Clinical Trial Application Submission
Impact on cash flow and use of proceeds
The Company intends to use the net proceeds from the Reserved Offering, which amount to circa EUR56 million, to fund principally the company's R&D activities related to its Gene Therapy programs, SENS-501 and SENS-601 (GJB2-GT), evenly, as well as for other R&D and corporate overhead expenses. Together with cash & cash equivalent and short-term deposits considered by the Company as liquid and easily available, amounting to c. EUR47.3 million (unaudited) as of December 31st, 2025, the Company believes that it will have sufficient cash & cash equivalent to fund its operations until the end of H1 2027 (based on its projected expenditures, the Company estimated that its cash and cash equivalents, prior to the Reserved Offering, would enable it to finance its activities into Q3 2026). The Company continues to pursue non-dilutive financing for the other assets.
Main terms of the Reserved Offering
Sensorion's Board of Directors and, by sub-delegation of the Board of Directors, the Chief Executive Officer, using the delegation of powers granted by the 15th resolution of the ordinary and extraordinary shareholders' general meeting held on May 12th, 2025 (capital increase with cancellation of preferential subscription rights in favor of categories of persons with specific characteristics) and in accordance with Article L. 225-138 et seq. of the French Commercial Code (Code de commerce), have decided respectively on January 27th, 2026 and January 28th, 2026, to complete the issuance of the 214,285,714 New Shares. The New Shares were issued at a price of EUR0.28, which represents a 0.4% discount to the last closing price and a discount of 2.0% to the weighted average share price on the day preceding the date on which the issuance price is set (i.e. January 27th 2026), in accordance with the 15th resolution of the ordinary and extraordinary shareholders' meeting of the Company held on May 12th, 2025.
The issuance of the 214,285,714 New Shares will result in an immediate capital increase of EUR59,999,999.92 (i.e., a nominal amount of EUR21,428,571.40 and a total issuance premium of EUR38,571,428.52 and corresponding to a nominal value of 10 cents (EUR0.10) plus an issuance premium of EUR0.18 per New Share), representing approximately 71% of the Company's share capital and voting rights outstanding before the Reserved Offering.
Redmile Group, Artal, which is advised by Invus, and Sofinnova Partners who are existing shareholders and are also represented on the Board of Directors of the Company, will participate in the Reserved Offering for subscription amounts of EUR5.3 million, EUR6.5 million and EUR3.0 million, respectively, representing 9%, 11% and 5% of the aggregate gross amount of the Reserved Offering, respectively. It is specified that Redmile Group, Artal, which is advised by Invus, and Sofinnova Partners, who are also members of Sensorion's Board of Directors, did not take part in the vote of the Reserved Offering at the Board of Directors' meeting held on January 27th, 2026.
Following the settlement-delivery expected to occur on January 30th, 2026, the Company's total share capital will be EUR51,494,694.00 divided into 514,946,940 ordinary shares, each with a par value of EUR0.10. The New Shares will be fungible with the existing ordinary shares of the Company and will be admitted to trading on Euronext Growth in Paris under the ISIN FR0012596468.
Leerink Partners LLC ('Leerink Partners') and Stifel Europe Limited ('Stifel') are acting as lead placement agents in connection with the Reserved Offering. Robert W. Baird & Co. Incorporated ('Baird') is acting as placement agent in connection with the Reserved Offering (Leerink Partners together with Stifel and Baird, the 'Placing Agents'). Stifel is acting as Centralizing Agent. Namsen Capital is acting as equity capital markets advisor.
About Sensorion
Sensorion is a pioneering clinical-stage biotech company, which specializes in the development of novel therapies to restore, treat, and prevent hearing loss disorders, a significant global unmet medical need. Sensorion has built a unique R&D technology platform to expand its understanding of the pathophysiology and etiology of inner ear related diseases, enabling it to select the best targets and mechanisms of action for drug candidates.
It has two gene therapy programs aimed at correcting hereditary monogenic forms of deafness, developed in the framework of its broad strategic collaboration focused on the genetics of hearing with the Institut Pasteur. SENS-501 (OTOF-GT) currently being developed in a Phase 1/2 clinical trial, targets deafness caused by mutations of the gene encoding for otoferlin and GJB2-GT targets hearing loss related to mutations in GJB2 gene to potentially address important hearing loss segments in adults and children. The Company is also working on the identification of biomarkers to improve the diagnosis of these underserved illnesses.
Sensorion's portfolio also comprises programs of a clinical-stage small molecule, SENS-401 (Arazasetron), for the treatment and prevention of hearing loss disorders. Sensorion's small molecule progressed in three Phase 2 proof of concept clinical study: firstly, in Cisplatin-Induced Ototoxicity (CIO) for the preservation of residual hearing, for which the recruitment is completed, and the follow-up is ongoing. Secondly, with partner Cochlear Limited, a study of SENS-401 for the residual hearing preservation in patients scheduled for cochlear implantation, completed in 2024. Thirdly, a Phase 2 study of SENS-401 was also completed in Sudden Sensorineural Hearing Loss (SSNHL) in 2022.
Forward-looking statements
This press release contains certain forward-looking statements concerning Sensorion and its business. Such forward looking statements are based on assumptions that Sensorion considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the 2024 full year report published on March 14, 2025, and available on our website and to the development of economic conditions, financial markets and the markets in which Sensorion operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Sensorion or not currently considered material by Sensorion. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Sensorion to be materially different from such forward-looking statements. This press release and the information that it contains do not constitute an offer to sell or subscribe for, or a solicitation of an offer to purchase or subscribe for, Sensorion shares in any country. The communication of this press release in certain countries may constitute a violation of local laws and regulations. Any recipient of this press release must inform oneself of any such local restrictions and comply therewith.
Contact:
Nicolas Bogler
Email: ir.contact@sensorion-pharma.com
Bruno Arabian
Tel: 00 33(0)6 87 88 47 26
Email: bruno.arabian@maarc.fr
Nicolas Entz
Tel: 00 33 (0)6 33 67 31 54
Email: nicolas.entz@maarc.fr
Web: www.sensorion.com
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