Nacuity Pharmaceuticals Raises $16.5M in Series B Financing


Nacuity Pharmaceuticals, Inc., a Fort Worth, Texas-based clinical stage biopharmaceutical company developing treatments for retinitis pigmentosa, cataracts and other ocular diseases caused by oxidative stress, closed a $16.5m Series B financing.

The round was led by Foundation Fighting Blindness and its venture arm RD Fund. Additional existing investors also participated in the round.

Proceeds from the financing will be used to support the advancement of the company’s clinical trials for NPI-001 and NPI-002 through proof of concept, as well as for general operations. NPI-001 tablets are currently being evaluated in a Phase 1/2 clinical trial, known as the SLO-RP Study ( Identifier: NCT04355689), in patients with retinitis pigmentosa associated with Usher syndrome. Nacuity expects to have interim results from this study in the second quarter of 2023. NPI-002, a proprietary sustained release antioxidant molecule designed to slow cataract progression delivered via intravitreal implant, is being evaluated in a Phase 1/2 clinical trial that is currently enrolling patients undergoing vitrectomy in Australia ( Identifier: NCT05026632). Nacuity expects to have results from this study in the second quarter of 2023.

Led by Halden Conner, Chairman, CEO, and Co-Founder, Nacuity Pharmaceuticals is a clinical-stage leader in innovative treatments for oxidative stress. The company’s targeted therapies aim to stop oxidative tissue damage, a driver of blinding eye diseases and a broad spectrum of serious chronic conditions. Nacuity has three differentiated clinical programs ongoing in retinitis pigmentosa, cataracts and cystinosis with the potential to be first-of-a-kind therapies and gateways to wider applications.

The company’s lead technology is based on studies from the laboratory of Dr. Peter Campochiaro at the Wilmer Eye Institute involving oxidative stress in the retina. Oxidative stress has been implicated in a variety of ocular conditions and diseases, including retinitis pigmentosa, cataract, age-related macular degeneration, diabetic retinopathy, glaucoma, presbyopia, retinal detachment, and vitreous degeneration.