2 days ago
Eyestem Secures Funding to Advance Eyecyte-RPE Phase 2 Clinical Trial
The proceeds will be directed towards completing the ongoing Phase 2 clinical trial of its retinal pigment epithelial cell therapy, Eyecyte-RPE™, in India and preparing for an Investigational New Drug application with the United States Food and Drug Administration.
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Eyestem Research Pvt Ltd has secured funding from existing investors along with a new strategic partner in a significantly oversubscribed round.
The proceeds will be directed towards completing the ongoing Phase 2 clinical trial of its retinal pigment epithelial cell therapy, Eyecyte-RPE™, in India and preparing for an Investigational New Drug application with the United States Food and Drug Administration.
Dr Jogin Desai, Founder and Chief Executive Officer of Eyestem, said, "Strong participation by internal investors and addition of a strategic investor underline the shared belief in Eyestem's long-term vision of creating an innovative cell therapy platform providing scalable solutions for incurable diseases worldwide. This USD 10 million fundraise will support the next leg of development and strengthen the foundation for global expansion. We continue to prioritise rigorous clinical progress and the capabilities needed to ensure global patient access to this therapy."
Raju Barwale, Chairman of Mahyco, and Sandeep Singh, Managing Director of Alkem Laboratories Ltd, stated, "Eyestem's pioneering treatment is delivering remarkable outcomes that set a new benchmark in ophthalmic cell therapy. The results observed in Phase 1 not only demonstrate promising efficacy compared to other ongoing global trials but also validate India's potential as a leader in advanced cell therapy innovations. We are privileged to support a breakthrough that has the potential to redefine treatment outcomes for millions suffering from dry AMD."
Eyecyte-RPE™ is intended for patients with geographic atrophy, a severe stage of dry age-related macular degeneration. In the completed Phase 1 trial involving patients with advanced disease and severe vision loss, the therapy demonstrated a strong safety profile with no serious adverse events and showed early clinical benefits. These included an average improvement of 15.8 letters in six patients over six months and an average improvement of 11 letters in two patients over one year. The Phase 2 trial will assess the product in a larger group of patients with moderate disease.
Founded by Dr Jogin Desai and a team of experts with decades of experience in pharmaceutical product development, retinal surgery, and cell biology, Eyestem is headquartered in Bengaluru and Delaware. Its proprietary Eyecyte-RPE™ therapy is derived from human induced pluripotent stem cells and is designed to replace damaged retinal cells, offering potential regeneration of diseased tissue.
