Character Biosciences secures $93m for targeted eye disease treatments

Character Biosciences has successfully secured $93 million in an oversubscribed Series B funding round, aiming to accelerate the development of precision therapies for degenerative eye diseases, starting with age-related macular degeneration (AMD). This funding effort was spearheaded by new investors Luma Group and aMoon, with additional contributions coming from Bausch + Lomb and Jefferson Life Sciences. Existing investors, including Catalio Capital Management, KdT Ventures, Innovation Endeavors, and S32, also participated in the round.

The company’s leading drug candidates, CTX203 and CTX114, target significant factors that lead to retinal cell death and vision loss. The newly acquired funds will support the Phase I and Phase II proof-of-concept studies for these therapies. Moreover, this financial boost will facilitate the company’s efforts to expand its treatment pipeline to include other eye-related conditions.

AMD is a degenerative condition that predominantly affects people over the age of 50 and stands as the leading cause of blindness among older adults worldwide. In response to this challenge, Character Biosciences is partnering with over 150 ophthalmology centers across the United States to conduct an observational study dedicated to AMD. This study integrates genetic information with long-term clinical and imaging data from over 6,500 participants. Such comprehensive data collection has empowered Character Biosciences to redefine AMD into genetically distinct subtypes, identify and prioritize potential therapeutic targets, and enhance subject selection for clinical trials.

Cheng Zhang, co-founder and CEO of Character Biosciences, emphasized the company’s innovative approach: “By identifying the genetic modifiers of their disease progression, we can develop therapeutics to more precisely target the root causes of disease and improve clinical translation. This funding allows us to advance our lead programmes into first-in-human trials, to bring new therapies to patients who urgently need them.”

Character Biosciences dedicates its efforts to the development of targeted therapies for progressive polygenic diseases, with an initial focus on the field of ophthalmology. The company's strategy involves a highly detailed examination of genetic data, which allows for the creation of customized therapeutic solutions that address the fundamental causes of such conditions.

Through its commitment to using genetic insights to redefine and target complex diseases, Character Biosciences aims to make significant strides in the field of ophthalmology and ultimately improve patient outcomes. The funding not only supports the advancement of current projects but also paves the way for future innovations in treating eye disorders. This strategic direction is poised to revolutionize the approach to addressing AMD and potentially other ophthalmic conditions, offering new hope to patients around the world.