SparingVision raises $75 Million to Advance Portfolio of Genomic Medicines for Ocular Disease
September 14, 2022
SparingVision, a genomic medicine company developing vision saving treatments for ocular diseases, has raised $75 million (€75 million) in a series B financing advance its pipeline of genomic medicines for ocular diseases.
Jeito Capital and UPMC Enterprises led the financing, with additional participation from 4BIO Capital, Bpifrance, the RD fund, venture arm of Foundation Fighting Blindness, and Ysios Capital.
Proceeds from the financing will be used to fund the first-in-human trials of the company’s two lead gene-independent assets, SPVN06 and SPVN20, as well as the development of genome editing assets through its collaboration with Intellia Therapeutics. The financing extends SparingVision’s cash runway to the second half of 2025.
SPVN06 is a breakthrough gene therapy approach aimed at stopping or slowing disease progression in patients affected by inherited retinal diseases (IRDs) and dry age-related macular degeneration (AMD) with an initial focus on mid-stage retinitis pigmentosa (RP), a group of rare inherited eye diseases that affect the retina. RP makes cells in the retina break down slowly over time, causing vision loss. RP is one of the most common IRDs that affects two million patients worldwide and is the primary target of SPVN06. Regulatory submissions are underway ahead of a first-in-human clinical trial, which is expected to start later this year, with first safety data anticipated in 2023 and initial proof-of-concept data in 2025.
SPVN20, SparingVision’s second asset, is a pioneering gene therapy product synergistic with SPVN06 which is aimed at restoring visual acuity and color vision in advanced and late-stage RP. SPVN20 is expected to enter the clinic in 2024, with first safety and activity data expected in 2025.
The financing will also enable SparingVision to advance SPVN50, the first genome editing product in development as part of its collaboration with Intellia Therapeutics in an undisclosed ocular target, after the two companies signed a strategic collaboration last year. SPVN50 is in early discovery studies.
“Since our last financing, we have been laser-focused on building the world’s leading portfolio of genomic medicines in the ocular space. With this financing, we are taking a significant step towards achieving clinical validation of our two lead assets and bringing mutation-agnostic genomic medicines to millions of patients affected by IRDs and dry AMD,” said Stéphane Boissel, president and CEO of SparingVision. “Our ambition does not stop here, and we remain fully concentrated on our three core pillars of exploration: our mutation-agnostic gene therapies, the genome editing technology toolbox of our strategic partner Intellia Therapeutics, and the potential of in vivo reprogramming in the retina.”
Author: Rare Daily Staff
Sign up for updates straight to your inbox.