Aviceda Therapeutics Secures $207.5M Series C Financing to Advance Pivotal Trials of AVD-104 for Geographic Atrophy

Jan 08, 2025 20:03 CST Updated 20:03

Aviceda Therapeutics

Pharmaceutical R&D Manufacturer

January 7, Cambridge, Massachusetts – Aviceda Therapeutics announced the completion of a $207.5 million Series C financing. Aviceda is a private, clinical-stage biotechnology company focused on developing next-generation immunomodulators using its proprietary high-affinity ligand Siglecs (HALOS™) nanotechnology platform to address chronic, non-resolving inflammation. The proceeds from the financing will support the ongoing Phase 2b/3 and planned pivotal Phase 3 clinical trials of AVD-104 in geographic atrophy (GA), a vision-threatening condition secondary to advanced age-related macular degeneration, and expand into other ophthalmic indications.

The financing was co-led by Omega Funds and TCGX, with participation from Envate Sciences, Jeito Capital, Blue Owl Healthcare Opportunities, Longitude Capital, OrbiMed, Logos Capital, Marshall Wace, Catalio Capital Management, abrdn, and Digitalis Ventures.

Bernard Davitian, Partner at Omega Funds, stated:"We are proud to support Aviceda and its team of retina specialists, who combine ophthalmic expertise with operational excellence to drive Aviceda toward the critical milestone of AVD-104."

AVD-104’s dual mechanism of action targets immune modulation and complement inhibition. By repolarizing overactivated macrophages to the healing phase and stabilizing complement factor H, AVD-104 demonstrated positive proof-of-concept efficacy in slowing GA lesion growth and protecting/enhancing visual function in the Phase 2a trial completed in early 2024, highlighting its potential for best-in-class efficacy and safety. Aviceda Therapeutics’ ongoing Phase 2b/3 trial is evaluating two doses of AVD-104 againstavacincaptad pegolThe efficacy of Izervay in GA patients has been fully incorporated into the study, with primary endpoint data at 12 months expected in the second half of 2025.

Founder and Managing Partner of TCGXDr. Chen Yu stated："Aviceda's focus on data quality and execution is evident in the progress of the AVD-104 project, and we believe that the company will have a significant impact in the geographic atrophy field and possess substantial potential advantages as it enters critical studies."

Bernard Davitian from Omega Funds and TCGXPartnerDr. Chen YuHas joined the board of directors of Aviceda. Evelyn Harrison,FrontThe Chief Operating Officer of Iveric Bio (a subsidiary of Astellas Pharma Inc.) has also joined as an independent director, bringing valuable expertise to advance novel therapies through late-stage clinical development and commercialization. Additionally, Sara Nayeem from Enavate Sciences.Ph.D.and Rafaèle Tordjman of Jeito CapitalPh.D.Appointed as a Board Observer.

David Guyer, Ph.D., Chairman of the Board of Aviceda Therapeutics, said:"We are delighted to welcome our new board members and a consortium of top-tier institutional investors. This financing round reflects strong confidence in Aviceda's leading program, AVD-104, for geographic atrophy — a market poised to disrupt and raise the standard of care, given the limited benefits current treatments offer in terms of vision improvement, lesion control, and safety. With this substantial funding, the company is well-capitalized to advance the pivotal program of AVD-104 in GA."

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