CHINA – Neurophth Therapeutics, a Wuhan, China-based gene therapy company for ophthalmic diseases, raised nearly USD95M in Series C+ funding.
The round was led by Yangtze River-CMB International Industry Fund, Wuhan Optical Valley Financial Holding Group, Wuhan Hi-Tech Holding Group, Hubei KTLC and Guangzhou Jinkong Fund. Additionally, CMG-SDIC Capital, Silicon Paradise Asset Management and Yangtze River Industry Fund, also participated.The company intends to use the funds to accelerate clinical trials for its core products, enhancing its R&D capabilities and expanding its pipeline. Led by Bin Li, Founder, Chairman and CEO, Neurophth is a gene therapy company for ophthalmic diseases. With subsidiaries in China (Wuhan, Shanghai and Suzhou) and the US (San Diego, CA), the company is to develop genomic medicines for patients suffering from genetic diseases globally. Its AAV platform has been validated through data from an investigator-initiated retinal gene therapy study. Its advanced investigational gene therapy drug candidate, NR082, used for the treatment of Leber’s hereditary optic neuropathy (LHON) associated with mtND4 mutation (ND4-LHON), has been granted orphan drug designation (ODD) by the U.S. FDA and the European Medicines Agency (EMA). The company’s pipeline also includes autosomal dominant optic atrophy, optic neuroprotection, vascular retinopathy, and other preclinical candidates.Neurophth completed its Series C financing in 2021, co-led by CMG-SDIC Capital and Sequoia Capital China, with further investment from Sunshine Life Insurance and China Merchant Bank International Capital. This follows the closing of Series B financing co-led by Guofang Capital and InnoVision Capital, with additional capital from Oriza Holdings, Harvest Capital, Grand Mount Capital, Sequoia Capital China and Northern Light Venture Capital. In early 2020, the firm finalized its Series A financing, co-led by Sequoia Capital China and Fosun, following the conclusion of its angel round of funding in August 2018, co-led by Miracle Light Venture, the venture arm of BGI Genomics, with additional investment from BOHE Angel Fund and Northern Light Venture Capital.11/08/2023
