$37M for Age-Related Macular Degeneration Startup
Optherion, a two-year-old company developing tests and treatments for age-related macular degeneration (AMD), has raised $37 million in Series A financing.
The company’s initial focus will be on dry AMD, the leading cause of blindness in people over 60. Optherion is developing therapies aimed at preventing vision loss in dry-AMD patients, as well as a portfolio of tests that predict, diagnose and monitor progression of the disease.
AMD is caused by degeneration of the macula, the region of the retina responsible for central vision. AMD is unique in that it is a common disease that has recently been linked to common variations in only a few specific genes, presenting opportunities to develop both diagnostic tests and disease-modifying treatments. In the U.S., there are 15-20 million people with AMD; worldwide, there are more than 50 million sufferers.
Optherion also has in the works diagnostics and therapeutics for an orphan disease called Membranoproliferative Glomerulonephritis Type II (MPGN-II), also known as Dense Deposit Disease. This is an end-stage renal condition that typically affects people between the ages of 5 and 25; it is often caused by the same genetic variations underlying AMD.
Optherion was founded in 2005 after scientific discoveries were published linking the role of Complement Factor H (CFH) and Complement Factor B (CFB) — both regulators of the alternative complement pathway — to AMD. It was found that approximately 50% of patients with AMD suffered from variations in the CFH gene; 74% of the disease could be explained by variations in the CFH and CFB genes combined. Genetic variations on Chromosome 10 have also been implicated in AMD, another angle being pursued by Optherion.
With corporate offices and labs in New Haven, Opherion also maintains a presence on the biotechnology campus of the University of Iowa in Coralville, IA — the company’s IP portfolio is based largely on discoveries made there.
Participants in the financing include Quaker BioVentures, Domain Associates, Johnson & Johnson Development Corporation, Purdue Pharmaceutical Products L.P., Pappas Ventures, Biogen Idec New Ventures, and GE Healthcare Financial Services.
One Response to “$37M for Age-Related Macular Degeneration Startup”
1 Barry Wheeler 14 April 2008 @ 8:12 am
It is great to see that people are getting the word out on Macular Degeneration and the effects that this has on all aspects of life.
The key is early detection and reducing the associated risks of contracting macular degeneration. We need to live healthier and quit smoking (a major cause of this disease).
This hit very close to home last year in April 2007 when my mom was diagnosed with this condition. Luckily, she was a candidate for avastin treatments here in Newfoundland, Canada, but these were not covered by our provincial healthcare system. Family and friends kicked in to save her vision!
While drug companies continue to do research such as this, it is important that we continue to lead healthy lifestyles.
Barry Wheeler
http://www.amdsupport.ca
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