RetroSense Therapeutics, an Ann Arbor, MI-based clinical-stage biopharmaceutical company, secured $6m in Series B financing.
Backers included The existing investors BlueWater Angels, and new investors RBV Capital, ExSight Capital, and Santen Pharmaceutical Co., Ltd. In connection with this investment, Dmitry Kuzmin, Ph.D., of RBV Capital joined RetroSense’s board of directors.
The company intends to use the funds to further investigate the use of gene therapy and optogenetics to restore vision. The proceeds should enable completion of the recently initiated Phase I/II clinical study for its lead compound, RST-001 for the treatment of Retinitis Pigmentosa, and also support the further development of a second promising gene therapy candidate. Recruitment for the RST-001 Phase I/II clinical study is underway at Retina Foundation of the Southwest.
Led by Sean Ainsworth, CEO, RetroSense Therapeutics develops life-enhancing gene therapies designed to restore vision in patients suffering from blindness due to retinitis pigmentosa (RP) and advanced dry age-related macular degeneration (advanced dry-AMD). There are currently no FDA approved drugs to improve or restore vision in patients with these retinal degenerative conditions. The company’s approach to using optogenetics in vision restoration is based on proprietary research conducted at Wayne State University and Massachusetts General Hospital.
RetroSense has worldwide exclusive rights to the relevant intellectual property from both institutions.