RhyGaze, a biotechnology company focused on developing gene therapies for retinal diseases causing blindness, has announced the successful completion of an $86 million Series A financing round. The funding will be used to advance the company's lead clinical candidate, a novel gene therapy designed for optogenetic vision restoration. This therapy targets diseases that lead to blindness, offering a potential solution for patients with limited or no treatment options.
The financing was led by GV (Google Ventures), with participation from Arch Venture Partners, F-Prime Capital, and existing investors BioGeneration Ventures and Novartis Venture Fund. The investment underscores the potential of RhyGaze's approach and its focus on addressing significant unmet needs in the treatment of vision loss.
Advancing Gene Therapy for Vision Loss
The funding will support several key activities, including formal pharmacology and toxicology testing to ensure the safety of the gene therapy. Additionally, RhyGaze plans to conduct a non-interventional, observational study to assess potential clinical endpoints in patient groups eligible for the therapy. A first-in-human clinical trial is also planned to evaluate the safety, tolerability, and potential efficacy of the lead candidate.
According to Botond Roska, scientific co-founder of RhyGaze, the program exemplifies the goal of combining a deep understanding of retinal biology and vision with breakthrough technologies to develop novel therapies for vision loss. Bence Gyorgy, another scientific co-founder, expressed excitement about the program's potential to restore high-resolution vision in blind patients.
Leadership and Vision
Katherine High, CEO of RhyGaze, highlighted the partnership with the Institute of Molecular and Clinical Ophthalmology Basel (IOB) and the importance of translating compelling data into clinical outcomes. She noted that if the data translates successfully, the innovation could have a worldwide impact on improved therapeutics for blindness.
RhyGaze was founded on intellectual property exclusively licensed from IOB. The company's name is derived from the Basel-German word for the Rhein (Rhy), reflecting its connection to the institute's location. The company operates from Basel, Switzerland, and Philadelphia, PA, USA.
