$16.5 million Series B financing was closed by Nacuity Pharmaceuticals, Inc., a Fort Worth-based clinical stage biopharmaceutical firm that develops treatments for retinitis, cataracts, and other ocular diseases due to oxidative stress.
Foundation Fighting Blindness led the round, as did its venture arm RD Fund. The round also included existing investors.
Proceeds from the financing will be used to support the advancement of the company’s clinical trials for NPI-001 and NPI-002 through proof of concept, as well as for general operations. NPI-001 tablets are currently being evaluated in a Phase 1/2 clinical trial, known as the SLO-RP Study (ClinicalTrials.gov Identifier: NCT04355689), in patients with retinitis pigmentosa associated with Usher syndrome. Nacuity will have interim results of this study by the end of the second quarter in 2023. NPI-002, a proprietary sustained release antioxidant molecule designed to slow cataract progression delivered via intravitreal implant, is being evaluated in a Phase 1/2 clinical trial that is currently enrolling patients undergoing vitrectomy in Australia (ClinicalTrials.gov Identifier: NCT05026632). Nacuity hopes to receive results from the study in the second half of 2023.
Nacuity Pharmaceuticals is headed by Halden CONNER, Chairman, CEO and Co-Founder. This clinical-stage leader in novel treatments for oxidative strain is Nacuity Pharmaceuticals. The company’s targeted therapies aim to stop oxidative tissue damage, a driver of blinding eye diseases and a broad spectrum of serious chronic conditions. Nacuity currently has three distinct clinical programs in retinitis, cataracts, and cystinosis. These programs have the potential for being first-of their kind and gateways into wider applications.
The company’s lead technology is based on studies from the laboratory of Dr. Peter Campochiaro at the Wilmer Eye Institute involving oxidative stress in the retina. Ocular diseases and conditions have been linked to oxidative stress, such as retinitis pigmentosa and cataracts, age-related macular decline, diabetes, glaucoma and presbyopia.