US-based biopharmaceutical startup RetroSense Therapeutics raised $6m yesterday in a series B round backed by investors including pharmaceutical company Santen Pharmaceutical.
The round also featured angel network BlueWater Angels, venture capital fund RBV Capital and VC firm ExSight Capital.
RetroSense plans to use the cash to complete a phase 1/2 clinical study for its lead compound, RST-001, which is being developed to treat eye disease retinitis pigmentosa, and to help develop another gene therapy drug candidate.
The round follows a $7m series A closed in January 2015 that was backed by pharmaceutical and diagnostics company Nerveda, BlueWater Angels, SDL Ventures, Tech Coast Angels and Michigan Economic Development Corporation.
Sean Ainsworth, CEO of RetroSense Therapeutics, said: “The follow-on participation from series A investors, combined with new institutional investors in the series B financing, demonstrates the great enthusiasm for RetroSense Therapeutics’ promise in ocular gene therapy.
“This syndicate of investors is tremendously strong in ophthalmology and optogenetics. Their financing and support will enable us to move forward more quickly, with broader reach.”