Nacuity Pharmaceuticals Raises $16.5M in Series B Financing

Nacuity Pharmaceuticals, Inc.A $16.5m Series-B financing was closed by, a Fort Worth, Texas-based biopharmaceutical company at clinical stage. It develops treatments for retinitis, cataracts, and other ocular diseases due to oxidative stress.

Foundation Fighting Blindness, along with its venture arm RD Fund, led the round. The round also included existing investors.

Proceeds from the financing will be used to support the advancement of the company’s clinical trials for NPI-001 and NPI-002 through proof of concept, as well as for general operations. NPI-001 tablets are currently being evaluated in a Phase 1/2 clinical trial, known as the SLO-RP Study (ClinicalTrials.gov Identifier: NCT04355689), in patients with retinitis pigmentosa associated with Usher syndrome. Nacuity will have interim results of this study by the end of the second quarter in 2023. NPI-002, a proprietary sustained release antioxidant molecule designed to slow cataract progression delivered via intravitreal implant, is being evaluated in a Phase 1/2 clinical trial that is currently enrolling patients undergoing vitrectomy in Australia (ClinicalTrials.gov Identifier: NCT05026632). Nacuity hopes to receive results from the study in the second half of 2023.

Nacuity Pharmaceuticals, which is led by Halden Conner (CEO, Co-Founder), is a clinical-stage company that specializes in cutting-edge treatments for oxidative stresses. The company’s targeted therapies aim to stop oxidative tissue damage, a driver of blinding eye diseases and a broad spectrum of serious chronic conditions. Nacuity currently has three distinct clinical programs in retinitis, cataracts, and cystinosis. These programs have the potential for being first-of their kind and gateways into wider applications.

The company’s lead technology is based on studies from the laboratory of Dr. Peter Campochiaro at the Wilmer Eye Institute involving oxidative stress in the retina. There have been many ocular diseases and conditions that oxidative stress has been implicated, including retinitis, cataract, age related macular degeneration and diabetic retinopathy.

FinSMEs

17/06/2022

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