Aviceda Raises $207M for Geographic Atrophy Drug Trial
Deal News | Jan 07, 2025 | Digitalis Ventures LLC
Aviceda Therapeutics, a biotech company focused on immune modulation, has raised $207.5 million through a series C funding round to support the development of its flagship eye disease drug, AVD-104. This drug, currently in a phase 2b/3 trial, is designed to treat geographic atrophy, a degenerative eye condition. The series C funding was co-led by Omega Funds and TCGX, with participation from several other investors. The trial compares AVD-104 to Astellas' approved drug Izervay. Twelve-month results are expected in the latter half of 2025, with a phase 2 trial for diabetic macular edema already underway. Aviceda's board chair, David Guyer, highlighted the investment as a reflection of confidence in the drug’s potential to disrupt the market and improve the standard of care. Notably, Omega Funds’ Bernard Davitian and TCGX’s Chen Yu have joined the company’s board, signaling further strategic investment alignment. Moreover, Aviceda plans on leveraging its proprietary HALOS nanotechnology platform to develop additional treatments for conditions such as fibrosis, Alzheimer's, multiple sclerosis, and solid tumors.
Sectors
- Biotechnology
- Healthcare Investment
Geography
- United States – Aviceda Therapeutics is based in Cambridge, Massachusetts, and the activities regarding their drug development and funding round are primarily taking place in the United States.
Industry
- Biotechnology – The article centers around Aviceda Therapeutics, a biotech company developing an innovative treatment for eye diseases, highlighting advancements in biotech solutions for medical conditions.
- Healthcare Investment – The substantial funding round led by multiple healthcare investment firms underscores the industry's focus on investing in groundbreaking medical treatments.
Financials
- $207.5 million – The total amount raised by Aviceda Therapeutics in its series C funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aviceda Therapeutics | Target Company | Company | A biotechnology company focused on developing immunomodulator drugs for degenerative diseases, currently advancing its lead eye disease drug, AVD-104. |
| Digitalis Ventures LLC | Investor | Company | A venture capital firm participating in the series C funding round for Aviceda Therapeutics. |
| Omega Funds | Co-lead Investor | Company | A healthcare investment fund that co-led the series C funding round for Aviceda. |
| TCGX | Co-lead Investor | Company | A healthcare-focused investment firm that co-led the series C funding round for Aviceda. |
| Astellas Pharma Inc. | Drug Competitor | Company | A pharmaceutical company whose drug, Izervay, is compared to Aviceda's AVD-104 in the current trial. |
| David Guyer, M.D. | Board Chair | Person | The board chair of Aviceda Therapeutics, providing leadership and strategic direction. |
| Bernard Davitian | Board Member | Person | Representative of Omega Funds, newly appointed to the Aviceda board. |
| Chen Yu, M.D. | Board Member | Person | Representative of TCGX, newly appointed to the Aviceda board. |