The round was co-led by new investor Mission BioCapital and existing investor Novo Holdings, with additional investment from existing investor Sound Bioventures. New investors include the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures and Pappas Capital.

Alongside the Phase II trial, the funding will advance Breye’s wider pipeline of oral small molecules for retinal diseases. This includes a P2X7 receptor antagonist for intermediate age-related macular degeneration (iAMD), intended to reduce nerve damage and inflammation, and additional neuroprotective candidates in glaucoma. The financing follows the publication of preclinical and early clinical evidence for danegaptide in Science Translational Medicine.

“This EUR 67.5m Series A financing, which includes significant support from both new and existing investors, reflects the strong confidence in Breye’s vision, strategy, and pipeline,” says Ulrik Mouritzen, CEO of Breye Therapeutics.

Jørgen Søberg Petersen, Senior Partner at Novo Holdings, adds: “Danegaptide has the potential to address a major unmet need in diabetic retinopathy, by offering what we believe will be a highly effective, non-invasive treatment solution.”