Less than a year after Novartis AG's acquisition of optogenetics specialist Vedere Bio Inc., its successor Vedere Bio II Inc. is launching with $77 million in series A financing, led by Octagon Capital. The company will develop earlier-stage assets than those Novartis purchased, including new, mutation-agnostic optogenetics technology to improve upon current gene therapies aimed at restoring functional vision to people with vision loss due to photoreceptor death.
Little more than two years ago, Biogen Inc. plunked down about $800 million for gene therapy developer Nightstar Therapeutics plc, which had an X-linked retinitis pigmentosa drug in its pipeline. Top-line results from the phase II/III Xirius study of cotoretigene toliparvovec (BIIB-112), administered by subretinal injection, show the one-time therapy missed its primary endpoint of producing a statistically significant improvement in the proportion of treated study eyes.
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