Neurophth Biotechnology Ltd., a Wuhan, China-based fully-integrated genetic medicines company developing AAV-delivered gene therapies for the treatment of ocular diseases, closed a RMB 400m ($61.9m USD) Series-B financing.
The round was co-led by Guofang Capital and InnoVision Capital with participation from new investors including funds and accounts managed by Oriza Holdings, Harvest Capital and Grand Mount Capital and existing investors Sequoia Capital China and Northern Light Venture Capital.
The company intends to use the proceeds to:
- support the anticipated IND submissions,
- complete the commercially scalable GMP manufacturing facility in accordance with international quality standards,
- initiate the establishment of translational research centers and
- develop the extensive portfolio of potentially curative gene therapies for the treatment of ocular genetic diseases.
Led by Alvin Luk, Ph.D., M.B.A., C.C.R.A., Chief Executive Officer, and Bin Li, M.D. Ph.D., Founder and Chairman of the Board, Neurophth is a gene therapy company for ophthalmic diseases. Headquartered in Wuhan with subsidiaries in Shanghai, Suzhou, and US, the company leverages its AAV validated platform which has delivered proof-of-concept data with investigational gene therapies in the retina. Its most advanced investigational candidate, NR082 (NFS-01 project, rAAV2-ND4), in development for the treatment of ND4-mediated LHON, has received orphan designations in the U.S. The pipeline also includes ND1-mediated LHON, autosomal dominant optic atrophy, glaucoma, diabetic macular edema, and five other preclinical candidates. Neurophth has initiated the scaling up in-house manufacturing process in single-use technologies to support future commercial demand at the Suzhou facility.