Perceive Pharma Secures $15M Series A for Eye Neuroprotection

Perceive Pharma, a forward-thinking pharmaceutical company in South San Francisco, has successfully secured $15 million in a Series A funding round. The round saw significant participation from renowned investors such as Deerfield Management, Johnson & Johnson through its venture capital arm JJDC, Inc., Braidwell LP, GV, the Retinal Degeneration Fund, and Catalio Capital Management, LP. This influx of capital aims to propel Perceive Pharma's mission to develop pioneering neuroprotective therapeutics, particularly focusing on glaucoma treatment.

The company emerged as a spin-off from Perceive Biotherapeutics, Inc., specifically to hasten the advancement of innovative neuroprotective therapies targeting glaucoma and other similar conditions. A key appointment accompanying this development is the introduction of Dr. Carol Gallagher to the company's Board of Directors. Dr. Gallagher, a seasoned industry veteran with over 35 years in the biopharmaceutical sector, brings invaluable experience from her previous roles with Eli Lilly, Amgen, Pfizer, and IDEC Pharmaceuticals.

Dr. Gallagher’s previous achievements include her tenure as CEO of Calistoga Pharmaceuticals, where she led its acquisition by Gilead in 2011. She has also been actively involved in biopharma venture capital investment through New Enterprise Associates and Frazier. Currently, she serves on the boards of several biopharma companies, both private and public, including Atara Bio and PMV Pharma. Her addition to Perceive Pharma’s board is expected to provide strategic guidance as the company transitions through crucial developmental phases.

Perceive Pharma's focus lies in neuroprotective pathways identified through comprehensive genomic screenings conducted by its co-founders, Drs. Don Zack and Derek Welsbie. Their collaboration with an industry partner has equipped the company with a robust library of neuroprotective drug candidates, with PBI-671 being the lead candidate. The newly acquired funds will primarily support the advancement of first-in-class therapies aimed at preventing vision loss not only in glaucoma but also in other undisclosed disease areas.

Glaucoma currently affects over 1.5 million Americans and many others worldwide, with existing treatments primarily targeting the reduction of intraocular pressure. However, about half of the patients experience continued vision loss despite having normal pressure levels. Perceive Pharma's innovative approach seeks to address this gap by introducing therapies that focus on neuroprotection, differentiating its programs from current treatment options.

Dr. K. Angela Macfarlane, CEO of Perceive Pharma, emphasized the unique scientific foundation of the company which holds the potential to develop transformative therapies that could significantly impact the treatment landscape for glaucoma and similar ophthalmic diseases. The company operates from JLABS @ San Diego, a part of the Johnson & Johnson Innovation – JLABS network, providing it with vital resources and community support.

Perceive Pharma's establishment is built upon substantial research that identified promising neuroprotective biological pathways through retina cell screenings. This innovative foundation is supported by notable investors including Deerfield Management and Johnson & Johnson Innovation. The company continues to make strides in developing small molecule neuroprotective therapeutics, with a primary focus on glaucoma and related diseases.

Perceive Biotherapeutics, the parent company, concentrates on advancing novel gene therapy treatments for ophthalmic diseases and shares a similar investor base committed to groundbreaking advancements in treating retinal blindness, including dry AMD. These efforts underscore the potential impact of their research in delivering new, effective treatments in the field of ophthalmology.