Arctic Vision Secures Over $100 Million in Series B Financing to Accelerate Pipeline Expansion, Clinical Development, and Commercialization

VCBeat (WeChat ID: vcbeat) has learned that Arctic Vision, an ophthalmic biotechnology company focused on the clinical development of innovative therapies (hereinafter referred to as “Arctic Vision” or “the Company”), announced today the completion of a Series B financing round exceeding USD 100 million. The round was led by Loyal Valley Capital, with participation from Tencent, Octagon Capital, and Dr. Adrian Cheng, renowned entrepreneur and key figure behind New World Development. Existing investors Nan Fung Life Sciences, Dingfeng Biopharma Capital, and Morningside Venture Capital continued their support. China Renaissance served as the exclusive financial advisor to Arctic Vision in this financing round. The proceeds will be used to further support the clinical registration and commercialization readiness of the Company’s product pipeline, the development of its proprietary R&D platform, the continuous introduction of new products, and team expansion.

Arctic Vision’s current pipeline includes three in-licensed products in Phase III clinical development: ARVN001 (Fengmai®) for the treatment of uveitic macular edema, ARVN002 for the treatment of progressive myopia in children, and ARVN003 for the treatment of presbyopia. ARVN001 received Investigational New Drug (IND) approval in China in late 2020, with its Phase III clinical trials expected to be initiated sequentially throughout 2021. The IND applications for ARVN002 and ARVN003 are actively underway. Furthermore, Arctic Vision plans to advance multiple newly developed pipeline candidates into clinical trials in 2021, while further strengthening its comprehensive capabilities in R&D, clinical registration, and commercialization.

Dr. Eddy Wu, Founder, CEO, and Director of Arctic Vision, stated: “Since its inception, Arctic Vision has remained focused on frontier innovative therapies in the ophthalmology sector. We have successfully introduced three products utilizing breakthrough patented drug delivery technologies, and have achieved rapid progress across all areas by leveraging a talented team composed of experienced industry experts and advisors. We look forward to accelerating the advancement of our R&D pipeline and enhancing our commercialization capabilities through this round of financing. By combining independent R&D with technical platform collaborations, we remain committed to delivering high-safety and highly effective treatment solutions for clinical practice. Meanwhile, we also anticipate expanding our presence in other Asian markets, helping more patients address the significant unmet needs in the field of ophthalmology.”

Mr. Xie Ronggang, Healthcare Partner at Loyal Valley Capital, stated, “We are delighted to support Arctic Vision in continuing to advance its promising R&D pipeline. Ophthalmology is one of the hottest subsectors for drug development globally. We believe there are abundant opportunities in this field and align with Arctic Vision’s vision and development strategy—market-oriented and innovation-driven—to identify ophthalmic innovative products suited to China’s context through a deep understanding of unmet clinical needs. For instance, ARVN003 is poised to become the first pharmacological treatment for presbyopia in China, while ARVN002 has the potential to bring revolutionary solutions for myopia management among children and adolescents in China. Arctic Vision has made significant progress over the past year. Loyal Valley Capital will continue to actively support the company, aiming to provide innovative solutions to patients with eye diseases as soon as possible, thereby improving their quality of life.”

Commenting on this investment, Ms. Qian Jing, Partner at DF Life Sciences China, stated: “DF Life Sciences and our group company, Nanfeng Life Science & Technology, have continuously invested in Arctic Vison through its seed, Series A, and Series B rounds because we have strong confidence in the company’s management team and its development trajectory since inception. Over the past year, clinical development across all of the company’s drug candidates has been advancing in an orderly and rapid manner, while its product pipeline has continued to expand, demonstrating the robust execution capabilities of the management team. We look forward to Arctic Vison securing new opportunities for international expansion in the coming year, achieving phased growth in its workforce, and gradually becoming a model for innovation in ophthalmic therapeutics in China and across Asia.”

Arctic Vision is a clinical-stage ophthalmic biotechnology company with a leading portfolio of breakthrough therapeutic products. The company’s vision is to address unmet medical needs in ophthalmology by delivering innovative therapies in China, across Asia, and globally. Founded with the support of top-tier life science investors, Arctic Vision is led and managed by an elite team of industry experts with extensive and distinguished experience in the global and Chinese R&D and commercialization of ophthalmic products.

ARVN001 (Fengmai®) is a patented triamcinolone acetonide suspension specifically designed for suprachoroidal injection to deliver medication to the fundus. It is being developed for the treatment of uveitic macular edema. This innovative suprachoroidal delivery method enables rapid and thorough diffusion of the drug into the posterior segment of the eye, providing sustained therapeutic effects while significantly reducing adverse impacts on normal intraocular tissues.

ARVN002 (MicroPine) is a micro-dose atropine ophthalmic formulation developed based on the Optejet® micromatrix drug film technology, with the potential to become a first-in-class innovative drug for controlling the progression of myopia in children. The development of this product takes into account the comfort and ease of use for pediatric patients, and its micro-dose administration aims to reduce systemic and ocular exposure levels of the drug.

ARVN003 (MicroLine) is a micro-dose pilocarpine ophthalmic formulation developed based on the Optejet® micro-matrix drug film technology, representing a pharmacological therapy for presbyopia. This product combines high-precision micro-dosing technology with pilocarpine, a classic drug that provides short-term improvement in near vision, thereby addressing the tolerability and usability issues associated with traditional bottle-based delivery of the same medication.

Loyal Valley Capital, established in 2015, has consistently adhered to the investment philosophy of "long-term orientation, focus, and altruism." It is committed to building China's premier investment research and post-investment management teams. By conducting in-depth industry research and providing proactive post-investment value-added services, Loyal Valley Capital partners with outstanding entrepreneurs to cultivate great enterprises that represent the future growth direction of China's economy and create value for society. Since its inception, Loyal Valley Capital has invested in a portfolio of high-quality companies emblematic of China's future economic development, including Bilibili, ByteDance, POP MART, Yixian E-Commerce (Perfect Diary), NetEase Cloud Music, Junshi Biosciences, InnoCare Pharma, Akeso Biopharma, Henlius Biotech, Supcon Technology, Bayi Space, and Avary Holding.

Octagon Capital, established in 2019, is a multi-stage investment management firm focused on the biomedical and healthcare industry. Its investment scope encompasses both public and private markets, aiming to serve as a long-term investment partner for biomedical and healthcare enterprises. The firm manages capital from global institutional investors, including university endowments, non-profit foundations, and family offices.

Dr. Adrian Cheng is the driving force behind New World Development and Chow Tai Fook Enterprises, the founder of the K11 brand, and a renowned cultural entrepreneur. He has maintained a sustained focus on the healthcare sector, with representative investments in biopharmaceutical projects both domestically and internationally, including Alphamab Oncology, Athenex, 3D Medicines, Transcenta Holding, and Cothera Bioscience, as well as healthcare service providers such as WeDoctor and Sanbo Brain Hospital.

Nanfeng Life Sciences, backed by the financial support of Hong Kong’s Nan Fung Group, is a global investment platform in the life sciences sector. The team members possess diverse and extensive experience in venture capital, growth-stage and mergers & acquisitions (M&A) investments, and drug development.

Dingfeng Life Sciences Capital, a subsidiary of the Nan Fung Group based in Hong Kong, specializes in global life sciences investment. Dedicated to sourcing innovative products and technologies worldwide, Dingfeng Life Sciences Capital has established and invested in a portfolio of leading biopharmaceutical companies in the Greater China region, addressing the growing healthcare demands, particularly within the Chinese market.

Morningside Venture Capital was founded in Boston, USA, in 1986 by the Chen family of Hong Kong. The Chen family established Hang Lung Group in Hong Kong in 1960. Since its inception, Morningside Venture Capital has consistently focused on and prioritized cutting-edge developments in the global biopharmaceutical and healthcare sectors, with its portfolio companies operating and invested in these fields across North America, Europe, and Asia.