Vedere Bio II Launches With $ 77 Million Series A Funding To Develop Next Generation Ocular Gene Therapies
CAMBRIDGE, Mass., May 18, 2021 / PRNewswire / – Vedere Bio II, Inc., a company that develops next-generation ocular gene therapies designed for the restoration and preservation of vision in patients with vision loss due to photoreceptor death, today announced the completion of its $ 77 million Series A funding. Founded by the management and research team behind the old Vedere Bio, which was acquired by Novartis in September 2020, Vedere Bio II (Vedere) will take advantage of its new proprietary mutation-free optogenetic technology to improve current gene therapies by restoring functional vision in patients. The funding was led by Octagon Capital, which was also joined by new investors Samsara BioCapital and Casdin Capital, and founding investors from Vedere, Atlas Venture, Mission BioCapital and the RD Fund, the venture capital arm of Foundation Fighting Blindness. .
“The launch of Vedere Bio II represents an important milestone in our work to restore the vision of patients with both genetic and non-genetic causes of vision loss, and we are delighted to be working with our new and founding investors to do so. progress our pipeline ”, mentioned Cyrus Mozayeni, MD, CEO, President of Vedere Bio II and Atlas Venture Entrepreneur in Residence. “Our new vision restoration approach targets underserved indications and shows great promise in restoring lost vision, going beyond the limitations of traditional gene therapy which is primarily aimed at slowing further vision loss.”
Vedere aims to increase the quality of vision restoration and preservation for all patients with vision loss due to photoreceptor death through the delivery of new payloads via proprietary AAV capsids administered by intravitreal route. While most current gene therapies target specific genetic mutations and only slow vision loss, Vedere’s technology is independent of the mutations and has the potential to quickly add new functions regardless of the stage of the disease. . Vedere’s new approach is expected to have several distinct advantages over other optogenetic approaches, which could help patients see fixed and moving objects in bright and dark environments without the need for a medical device that improves vision. The Series A funding will allow Vedere to advance its therapeutic platform and programs (including the core program at the IND depot), attract talent and invest in research.
“Vedere has a clear mission to restore and preserve vision in patients, and we are thrilled with the opportunity to partner with such a dedicated team and support them with a proven track record of success,” said Ting Jia, Founder and Chief Investment Officer at Octagon. Capitale. “The company’s unique approach and revolutionary technology have the potential to address the challenges of existing gene therapies that could not be overcome in the past, with the ultimate goal of restore vision in patients with limited treatment options. ”
Based on technology from Drs. Ehud Isacoff and John G. Flannery UC Berkeley, and technology to improve the delivery of ocular gene therapy co-occurring between UC Berkeley and the University of Pennsylvania School of Veterinary Medicine, Vedere Bio II has developed an optogenetics-based platform to develop treatments for inherited retinal diseases (IRD) and geographic atrophy (GA), not linked by the specific underlying genetic cause. The therapies impart light sensing properties to cells downstream of photoreceptors, which are preserved in most IRDs and FAs, thus rapidly adding new function, regardless of the stage of the disease.
“Vedere’s next-generation optogenetic approach aims to make restoration and preservation of vision a reality in widely underserved indications,” said Ben yerxa, Ph.D., CEO of Foundation Fighting Blindness and RD Fund. “Hereditary retinal disease and geographic atrophy affect more than seven million people worldwide, and all of these patients deserve life-changing therapies. Vedere’s advanced technology has the potential to dramatically increase the number of patients who can be treated for vision loss caused by photoreceptor cell death. “
About Vedere Bio II, Inc.
Vedere Bio II is an emerging private biopharmaceutical company that takes advantage of mutation agnostic technology and novel AAV capsids to restore vision in all patients with vision loss due to photoreceptor cell death. Comprised of a diverse team of pioneering scientists, Vedere Bio II discovers and develops next-generation ocular gene therapies to increase the quality of vision restoration and preservation for large, underserved indications. The company is headquartered at LabCentral in Cambridge, MA and is funded by Atlas Venture, Casdin Capital, Mission BioCapital, Octagon Capital, the RD Fund and Samsara BioCapital. For more information, please visit www.vederebio.com or follow Vedere Bio II on Twitter and LinkedIn.
SOURCE Vedere Bio II, Inc.