Eyevensys Raises $12M in a Series B Plus Funding Round
Eyevensys, a privately held, clinical-stage biotechnology company developing non-viral gene therapies for ophthalmic diseases, today announces it has raised $12M in a Series B Plus funding round. Korea Investment Partners is leading the Series B Plus financing and existing investors will also join the round.
The financing will support Eyevensys’ accelerated development of its EYS809 program for the treatment of wet age-related macular degeneration (AMD), a chronic eye disorder that causes blurred vision or a blind spot in the eye. The condition accounts for approximately 90 percent of all AMD-related blindness. Additionally, the company will advance its EYS611 program targeting geographic atrophy (GA) and retinitis pigmentosa.
The Eyevensys technology is a non-viral gene therapy ocular drug delivery platform that uses an Electrotransfection System to deliver DNA plasmids encoding therapeutic proteins into the ciliary muscle to sustainably treat major eye diseases. This turns the eye into a biofactory, allowing the ciliary muscle to express and secrete the therapeutic protein to the back of the eye at therapeutic levels for a duration of greater than 6 months.
Eyevensys has validated its electrotransfection technology in the clinic through its EYS606 program for non-infectious uveitis, a sight-threatening intraocular inflammatory condition characterized by inflammation of the uvea. This same Electrotransfection System will be used to deliver relevant therapeutic proteins to the eye for Eyevensys’ other EYS809 and EYS611 programs.
“We’re thrilled to announce this funding round, which will help us move forward in our mission to develop life-changing solutions for patients with debilitating eye diseases,” said Dr. Patricia Zilliox, CEO of Eyevensys. “We are also excited to have the support of Korea Investment Partners and our existing investors as we pivot to refocus on our additional programs focused on wet AMD and retinitis pigmentosa. This funding will allow us to demonstrate that treating ophthalmic conditions doesn’t have to be invasive and risky, and that our approach is more convenient than other intraocular drug delivery approaches.”
Sangwoo Lee, Managing Director of Korea Investment Partners, said: “Eyevensys’ non-viral gene therapy platform is both highly innovative and meets important medical needs. We are thrilled to join Eyevensys in advancing its mission to treat eye diseases.”
Wedbush PacGrow acted as the exclusive placement agent for the Series B Plus financing.