Character Biosciences secures $93M for vision loss drug development

Character Biosciences, a pioneering biotechnology startup, has recently secured $93 million in a Series B funding round, positioning itself to advance its research endeavors. The significant financing is aimed at propelling the company’s two primary drug candidates into clinical trials. These candidates are designed to tackle different stages of age-related macular degeneration (AMD), which is a leading cause of vision impairment.

The first drug, CTX114, is targeting geographic atrophy, an advanced form of AMD. Geographic atrophy is characterized by significant damage to retinal cells, leading to vision loss. Character Biosciences is setting its sights on challenging existing treatments such as Syfovre from Apellis Pharmaceuticals and Izervay from Astellas Pharma. These current treatments can reduce the growth of lesions in the eye but have not conclusively proven to preserve vision. Notably, Syfovre has been linked to severe side effects in rare instances. CTX114 distinguishes itself by targeting the complement system within the body’s immune system. Cheng Zhang, the co-founder and CEO of Character Biosciences, explained that CTX114 mimics a protein that normally regulates the complement system, which malfunctions in AMD. Early testing has indicated that this approach could be more effective, although human trials will be required to confirm this.

The second drug, CTX203, is intended for patients in the intermediate stages of AMD, before they advance to more severe forms of the disease such as geographic atrophy. CTX203 aims to stabilize the expression of ABCA1, a protein integral to lipid transport in retinal cells. A deficiency in ABCA1 can lead to lipid accumulation, contributing to the progression of AMD. Unlike the wet form of AMD, which has numerous treatment options, the dry form, which affects the majority of the estimated 200 million global AMD sufferers, has been more challenging to treat. Zhang attributes this difficulty to the heterogeneous nature of the disease and its variable progression. To overcome these challenges, Character Biosciences has amassed an extensive database of AMD patient information to guide its drug development and clinical trial design.

Zhang expressed confidence in their strategy, stating that their comprehensive understanding of AMD’s complexities allows them to identify patients who are likely to respond favorably to their treatments. The company’s goal is to tailor therapies to specific patient subgroups, thereby increasing the efficacy and applicability of their drugs.

The Series B funding round was led by aMoon and Luma Group, with participation from Bausch + Lomb, Jefferson Life Sciences, and several other investors. In addition to its investment, Bausch + Lomb has embarked on a collaborative partnership with Character Biosciences, announced earlier this year. Jamie Kasuboski, a partner and head of research at Luma Group, emphasized the innovation of Character’s patient-centric approach, expressing optimism about the potential clinical benefits that could arise from the latest funding.

Formerly known as Clover Therapeutics, Character Biosciences was founded in 2019 by Clover Health, a health insurance company. Prior to this recent funding round, the company had raised $28 million, demonstrating its steady growth and commitment to developing meaningful treatments for vision loss.