Advancing Oral Therapies for Retinal Diseases: Breye Therapeutics Secures €67.5 Million Funding

Breye Therapeutics, a clinical-stage biopharmaceutical company based in Denmark, has successfully completed a Series A financing round, raising €67.5 million. The funding round was oversubscribed and co-led by Mission BioCapital and Novo Holdings, with participation from other investors such as Sound Bioventures, the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures, and Pappas Capital. Robert Blazej from Mission BioCapital and Lukas Ljungström from the Ljungström family office will be joining Breye’s board.

Ulrik Mouritzen, the CEO of Breye Therapeutics, expressed his gratitude for the significant support from both new and existing investors. The funding will allow the company to advance danegaptide, its oral treatment for diabetic retinopathy, to the next stage of clinical development. Breye, founded in 2019, specializes in developing oral therapies for various eye diseases, including diabetic retinopathy, intermediate age-related macular degeneration, and glaucoma.

Diabetic retinopathy is a leading cause of vision loss worldwide, affecting approximately 130 million people. Breye highlighted the market potential for diabetic retinopathy therapeutics, which is projected to nearly double over the next decade. The company aims to address the unmet medical needs of patients with diabetic retinopathy by offering a patient-friendly treatment option like danegaptide, its lead candidate.

Danegaptide is an oral small molecule with a unique mechanism of action that stabilizes retinal vasculature, protecting against retinal capillary breakdown and vascular leakage caused by high glucose levels. Breye recently completed a Phase 1b trial for danegaptide, showing promising results in patients with diabetic retinopathy.

The company plans to use the funding to advance danegaptide into a Phase 2 clinical trial for patients with diabetic retinopathy. Additionally, Breye is developing other oral small molecules for eye diseases like intermediate age-related macular degeneration and glaucoma.

In conclusion, Breye Therapeutics’ successful Series A financing round marks a significant milestone for the company and its vision to provide innovative oral therapies for retinal diseases. With a strong investor backing and a promising pipeline of treatments, Breye is poised to make a positive impact on the lives of patients with debilitating eye conditions.