A biosciences venture unit of US-based mutual fund Fidelity and a corporate venturing style unit of Danish foundation Novo yesterday helped recently formed eye disease treatment company Imagen Biotech raise $40m.
Novo Ventures and Fidelity Biosciences were joined by venture firm SV Life Sciences in the series A round. Imagen Biotech was formed this summer and is researching treatments for blindness, including dry age-related macular degeneration, a major cause of sight loss suffered by about 12 million patients.
Matthew Feinsom, an ophthalmologist formerly at US-based eye treatment company Eyetech Pharmaceutical and a medical officer in regulator the Food Drug Administration’s Ophthalmology Division, will be Imagen’s Chief Medical Officer.
Thomas Dyrberg, a senior partner at Novo Ventures, said: "We continue to recognise the desperate need for treatments in these degenerative eye diseases. Imagen’s experienced leadership team has a proven track record of success, and we are working closely with them to deliver revolutionary ophthalmology treatments to these patients."
David Guyer, a partner at SV Life Sciences, will serve as the executive chairman of Imagen.