Ruitong Bio Raises Tens of Millions in Angel Funding to Enter Ophthalmic Long-Acting Drug Delivery Market

Jan 21, 2025 09:54 CST Updated 09:54

Raytne

Ophthalmic New Drug and Therapeutic Device R&D Provider

Source: Eye Future; Editor: Seven Kite

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Recently,Raytne(Abbreviation:Raytne）Announcement CompletedTens of Millions of Angel Round FinancingThis round of financing was jointly invested by Qinzhi Capital, National Innovation Center for High-Performance Medical Devices, JenKem Technology, and Daotong Investment. Dingqi Consulting served as the exclusive financial advisor.This round of funding will be mainly used to advance the clinical trials of the company's core pipeline.Accelerate the development of the iSus® sustained-release technology platform and the expansion of the product pipeline。

Due to the short retention time of effective drug components on the ocular surface, low bioavailability, and slow onset of action in eye drop administration; coupled with various subjective and objective factors of patients that may lead to poor medication adherence and treatment effects falling short of expectations, this issue has been widely recognized by ophthalmologists.An urgent need for a new therapeutic approach capable of long-term stable drug release。

In 2021, Raytne, focused on the ophthalmology field, was officially established, andBuild a pipeline of 5 new drugs and 1 medical device with potential within one year, including cataract treatment, myopia relief, and dry eye treatment. From the industry's perspective, the project initiation and R&D progress of Raytne's products under development already exhibit three characteristics: good, accurate, and fast.

CompanyInOcular Biodegradable Long-acting Sustained-release TechnologyAt the core,Committed to solving the pain point of frequent dosing with eye drop formulationsThe core platform technology under its umbrella, iSus®, enables sustained drug release and delivery on the ocular surface and in the fundus for durations ranging from several days to months in a single administration, significantly improving patient compliance with treatment and prognosis outcomes.

# Research and Development Background

Globally, there are only three approved biodegradable drug delivery solutions for ocular treatment., including Allergan's glaucoma anterior chamber implant drug, macular edema vitreous implant, and Ocular's postoperative anti-inflammatory analgesic lacrimal duct insert drug. The scarcity of these products is mainly due to the high difficulty in R&D, involving materials science, pharmaceuticals...Fields such as science, chemical engineering, and medicine are multidisciplinary, with long cycles and low success rates.

After three years of research and development, the Raytne team has successfully overcome core technical challenges such as formulation processes, degradation cycle regulation, and automated mass production, developing the iSus® biodegradable long-acting sustained-release technology platform. This platform is expected to be widely applied in the future.Long-term Sustained Release Needs in Ophthalmic Drugs for Humans and Pets。

Raytne's first product targets moderate to severe dry eye syndrome., which combines the physical effect of punctal plugs with the pharmacological action of immunosuppression, offers sustained efficacy for several months with a single administration, significantly reducing the burden of multiple daily dosing for patients. Its ingenious design ensures comfort and stability upon insertion, enhancing patient compliance and treatment outcomes, providing ophthalmologists with a more innovative, efficient, and accessible treatment option.

# Product and Technology Introduction

Core Technology: iSus^®Sustained-release Platform

iSus^®It is a biodegradable, long-acting sustained-release technology platform independently developed by Raytne, which can achieve single-dose sustained release delivery of ocular surface and fundus medications lasting from several days to months.This platform overcomes the pain points of traditional eye drops, such as short retention time, low bioavailability, and poor compliance, significantly improving patients' treatment experience and prognosis.Its development involves multiple disciplines such as materials science, pharmacy, chemical engineering, and medicine, overcoming key technical challenges like biocompatibility, degradability, drug stability, and release control.

Core Product

1. RTP-003B：An innovative dual-target drug for the early stage of cataracts is in the early stage of drug screening.

2. RTP-008：A punctal plug drug system for moderate to severe dry eye disease, combining a punctal plug physical barrier with immunosuppressive drugs, allows a single administration to last for months, significantly reducing the frequency of medication for patients.。

3. Low-concentration Atropine Sulfate Eye Drops:Combined Therapy for HSV Keratitis, Patent Invention Applied.

4. Treatment drugs for geographic atrophy (GA) of the fundus:Innovative therapeutic drugs for macular degeneration are currently in the research and development stage.

5. Lacrimal duct implant:For ocular surface ultra-long-acting drug delivery systems, providing physical carrier support.

Technical Features

Combination of Innovative Drugs and Devices:Raytne's product pipeline integrates innovative drug and device technologies to enhance treatment outcomes and patient experience.
Independent Intellectual Property:The company has applied for multiple patents, including biodegradable hydrogel compositions and non-steroidal anti-inflammatory drug compositions.
Multi-scene Application:iSus^®The platform technology covers ocular surface and fundus diseases, applicable to the long-term treatment of various chronic eye conditions such as cataracts, dry eye syndrome, and macular degeneration.

# Perseverance in the Cold Winter

The research and development innovation of pharmaceuticals/medical devices is a massive systematic engineering project.High Risk, High Investment, Long CycleIt is the most basic characteristic, as well as the most headache-inducing difficulty for startups.

Facing the market downturn, what strategies does Raytne have to cope with it?

Raytne CEO Ling Yanbo stated as follows：

"Actually, compared to when the company was first established, our product pipeline has undergone a profound adjustment,Adjust to varieties that are competitive, differentiated, and meet genuine clinical needs.For instance, our RTP-008 is a lacrimal punctum insert for sustained-release treatment of dry eye. Regarding its indications, if we choose glaucoma, it must be registered as a drug; however, if we choose dry eye syndrome, the carrier component can serve a physical therapeutic function by reducing tear loss, allowing it to be registered as a combination drug-device product. This significantly shortens the R&D cycle. After completing R&D and testing, we can submit an application to a hospital’s ethics committee, and once approved, register with the local pharmaceutical regulatory authority for clinical trials, obtaining clinical approval on the same day. Additionally, the clinical CRO costs for medical devices are lower than those for drugs. These are adjustments we have made to adapt to challenging times:As soon as possible, the product will be launched.The capital investment in device-dominated pharmaceutical-device combination products is also not substantial.。

We predict,RTP-008 Pipeline Expected to Gain Market Approval in 2026, we have made the worst plans at the enterprise strategy level. Currently, the company规模较小,In extreme cases, other pipelines can be suspended, retaining only the advantageous ones. Without layoffs, relying solely on own funds and bank loans to push the product to market.。

In terms of R&D, our project initiation and pipeline design are all driven by clinical needs, unlike many other companies that may choose directions based on the technologies they possess, which ultimately might not meet real clinical demands. In the market aspect, ophthalmology has a stronger consumer orientation compared to other fields, with a large potential customer base; for instance, there are approximately 100 million people with moderate dry eye symptoms currently. Building our own sales team would take too long and be too costly, soIn the future, we tend to cooperate with large enterprises.。

"After all, Biotech is good at R&D rather than selling drugs. Professionals should do professional work. The cooperation between Biotech with R&D capabilities and Pharma with strong sales ability is a powerful combination. We have already reached out to several large Pharma companies in the ophthalmology field, and they are very interested in the subsequent commercialization of our products."

In summary,To advance six product pipelines simultaneously is a tremendous challenge for all startup pharmaceutical and medical device companies that have been established for 1 to 3 years.. Ling Yanbo has his own solution,Leave the "brain" at Raytne, and delegate execution to external parties.Over the past year, the core technology team of Raytne has mainly been responsible for project design and early concept verification, while the remaining project execution has adopted the "preclinical CRO + CDMO + clinical CRO" model.

It is foreseeable that the combination of a strong product pipeline with corporate strategy will effectively allow companies to penetrate the market through the gaps left by large enterprises and achieve success in the future.

# Company Introduction

Raytne was founded in 2021 as a high-tech enterprise specializing in innovative ophthalmic technologies.The company was founded by Dr. Ling Yanbo, the legal representative, founder, CEO, and CTO.Dr. Ling Yanbo holds a Ph.D. from the Academy of Military Medical Sciences and the title of Associate Researcher. He has served as the Principal Investigator (PI) of the Beijing Key Laboratory of Tuberculosis at the PLA General Hospital. He is currently a member of the Academic Committee of the Hunan Provincial Key Laboratory of "Aging Disease Prevention and Biopharmaceutical Innovation" at Hunan University, with extensive experience in drug development, technological innovation, and scientific research management.

The Raytne team is composed of multidisciplinary experts with more than ten years of industry experience, covering the fields of materials science, pharmacy, chemical engineering, and medicine.With its independently developed iSus® sustained-release technology platform, Raytne has demonstrated significant technical advantages in the field of long-acting drug delivery for ophthalmic diseases.The company has established close cooperative relationships with institutions such as the National Innovation Center for High-Performance Medical Devices, Qinzhi Capital, JenKem Technology, and Daotong Investment to accelerate the clinical transformation of technological achievements through resource support.

Clinical Progress and Market Performance

Raytne's fastest pipeline has submitted a Phase I IND (Investigational New Drug) application, and the clinical development of other pipelines is also proceeding steadily. Its innovative products are expected to occupy an important position in the global ophthalmology long-acting drug delivery market.