Complement Therapeutics, a UK-based biotech startup, has secured €72 million ($79 million) in Series A financing to accelerate the development of its innovative gene therapy program for geographic atrophy, a devastating eye condition that leads to blindness.
The substantial funding round was spearheaded by Belgian private equity firm Gimv, with co-leadership from existing investor Forbion. Additional participants included BioGeneration Ventures, Panakès Partners, Cambridge Innovation Capital, Hadean Ventures, and Seroba Life Sciences.
Addressing an Urgent Unmet Need
Geographic atrophy, an advanced form of age-related macular degeneration (AMD), affects approximately 8 million people worldwide. The condition is characterized by the progressive loss of photoreceptors and retinal pigment epithelial cells in the macula, the central portion of the retina crucial for vision. While multiple treatments exist for AMD, therapeutic options for geographic atrophy have remained severely limited.
Strategic Development Program
The University of Manchester spinout, established in 2021, has already initiated a non-interventional natural history study called i-GAIN in the UK. This study investigates the relationship between circulating complement proteins and geographic atrophy secondary to AMD, providing crucial data to inform the clinical development of their lead candidate, CTx001.
In a significant step toward clinical trials, Complement Therapeutics has partnered with Liverpool-based contract manufacturer Pharmaron to produce initial batches of their adeno-associated virus (AAV)-based gene therapy. The company aims to commence first-in-human studies in the second half of 2024.
Potential Therapeutic Advantage
The development of CTx001 comes at a pivotal time in geographic atrophy treatment. While Apellis Pharma recently secured FDA approval for Syfovre (pegcetacoplan), the first approved drug for this condition, it requires regular eye injections every 25 to 60 days. Complement Therapeutics' gene therapy approach aims to provide a significant advantage through a single-injection treatment modality.
The newly secured funding will enable Complement Therapeutics to complete a Phase 1b trial of CTx001, expand its R&D operations in Stevenage, and advance additional pipeline candidates. This robust financial backing reflects strong investor confidence in the potential of gene therapy solutions for geographic atrophy and the company's innovative approach to addressing this serious medical condition.
