RetiPharma completed a EUR 1,3M capital funding round from the Novo Nordisk Foundation’s BioInnovation Institute.
RetiPharma, a Copenhagen, Denmark-based biotech startup focused on developing novel treatments for neurodegenerative eye diseases utilizing forward and backward translatability between animal models and patients, announced that it has secured EUR 1,3 million ($1.5M) in funding from the Novo Nordisk Foundation’s BioInnovation Institute (BII).
The money was provided as a convertible note which will be paid in tranches according to achievement of agreed milestones.
The funding will be used to prepare RetiPharma's lead drug RP001 for a clinical proof-of-concept study in patients with retinal detachment as well as to in source additional compounds using RetiPharma’s unique translational platform.
RetiPharma, founded in 2015 and led by CEO Henrik Vissing, is developing products for treatment of degenerative eye disorders based on an in vivo platform for translation from in vivo models to humans.
The company has an exclusive licence from University of Copenhagen to IP on a family of neuroprotective peptides.
RP001 is a new peptide drug for intravitreal [eye] injection that already has demonstrated functional improvement of the sight as well as neuroprotection in several in vivo models. It is being prepared for clinical study in patients with retinal detachment as a proof-of-concept indication.
RetiPharma is supported by a strong scientific and clinical team lead by David Woldbye, MD and Kristian Klemp, MD Chief Physician, specialised in retinal detachment surgery at Rigshospitalet. David has been working with NPY at the University of Copenhagen for decades and RetiPharma is the second company based on his research.