Eyestem Research Secures $10 Million for Eye Disease Therapy Development
Eyestem Research, a clinical-stage biotechnology firm, has successfully raised $10 million in a Series B funding round. The round was co-led by Raju Barwale and Sandeep Singh, managing director of Alkem Laboratories. Previously, this Bengaluru-based company had raised $9.95 million from Alkem Laboratories, Biological E, and C-CAMP.
Purpose of Funding for Eyestem Research
The funds will be directed towards finalising the ongoing Phase 2 clinical trial in India and will also support the preparations for filing an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA), according to a press release from Eyestem.
About Eyestem Research
Co-founded in 2015 by Jogin Desai, Rajani Battu, and Rajarshi Pal, Eyestem Research is dedicated to creating cell replacement therapies for incurable eye conditions. The firm is notably recognised for its focus on dry age-related macular degeneration (AMD). It is currently developing a therapy named Eyecyte-RPE, which employs retinal pigment epithelium (RPE) cells derived from human induced pluripotent stem cells to replenish damaged retinal cells.
Eyecyte-RPE’s Development
Eyestem is working on Eyecyte-RPE for patients suffering from geographic atrophy (GA) resulting from dry age-related macular degeneration (dry AMD). The company has already submitted its Phase 1 clinical study report to the Central Drugs Standard Control Organisation (CDSCO) and is now awaiting approval to commence Phase 2.
Potential Benefits of Eyecyte-RPE
According to Eyestem, Eyecyte-RPE can assist in replacing damaged or lost retinal pigment epithelial (RPE) cells, which may facilitate tissue regeneration in the affected retina. This innovative formulation is allogeneic, scalable, and has the potential to be stored as a frozen vial for extended periods.
Understanding Dry AMD and Geographic Atrophy
Dry AMD stands as the primary cause of blindness in individuals over 50 years old. Geographic atrophy (GA) is a severe form of dry age-related macular degeneration that leads to progressive and irreversible central vision loss. This condition is marked by the death of cells in the macula, the centre of the retina. Globally, around 196 million individuals are affected by dry AMD, with approximately five million battling GA.
Other Key Players in the Field
Other significant companies operating in this area include Lineage Cell Therapeutics and Voyager Therapeutics.