The Russian market of private equity and venture investments showed a decline in the first 9 months of the year 2015
Jan 03, 2016
Venture fund RBV Capital, engaging RVC capital, together with the pool of international investors BlueWater Angels, ExSight Capital and Santen Pharmaceutical Co., Ltd., one of the leading pharmaceutical companies in the field of ophthalmology, invested in RetroSense Therapeutics $6 million in a Series B financing. Earlier, RetroSense Therapeutics closed a $7 million Series A financing, bringing total Series A and Series B investment to $13 million.
RetroSense Therapeutics, a privately‐held, clinical-stage biopharmaceutical company, developing therapies designed to restore vision in patients suffering from blindness due to retinitis pigmentosa and advanced dry age-related macular degeneration. Retinitis pigmentosa is a genetic condition which leads to the progressive degeneration of the eyes and can result in severe vision loss and blindness. Age-related macular degeneration is a group of diseases which leads to deterioration of retina and central sense of vision. Macular degeneration is grounded on vascular pathology and ischemia of the central zone of the retina. Both diseases are currently incurable, available therapies only slow down the loss of vision but are unable to prevent it. Today in Russia retinitis pigmentosa affects about 50 000 and 100 000 in CIS countries. Retrosense technology aims to restore vision after the loss of receptors in the retina. Thanks to the therapy blind and visually impaired people both in Russia and from all the world will be able to restore vision.
The company plans to use this investment to prepare a package of pre-clinical data and initiate Phase I/II clinical study for the treatment of Retinitis Pigmentosa.
"The follow-on participation from the core investors demonstrates trust for RetroSense Therapeutics’ promise in ocular gene therapy," Their financing and support will enable us to move forward with broader reach and complete more quickly Phase I and II of clinical study for RST‐001 compound." said Sean Ainsworth , CEO of RetroSense Therapeutics.
In connection with this investment, Dmitry Kuzmin, Cand. Sc., of RBV Capital joined the Company’s board of directors. Dr. Kuzmin brings direct experience and knowledge of optogenetics in neurobiology through research conducted at Max Planck Institute for Brain Research (MPIH) and University College of London(UCL).
Alexey Konov, Managing Partner of RBV Capital, said: "We are honoured to team up with such esteemed investors. We have invested about 2 million dollars US in the deal and are happy to start cooperation with RetroSense team, waiting for breakthroughs in the near future. We also hope to establish the cooperation with Russian partners — the first contacts already took place under the recent Open innovations Forum where the CEO and founder Sean Ainsworth (Sean Ainsworth) and the chief technology developer, Professor Zhuo - Hua Pan (Zhuo-Hua Pan) delivered speeches at behest of the Forum's organizing committee".
RetroSense Therapeutics, a privately‐held, clinical-stage biopharmaceutical company, developing therapies designed to restore vision in patients suffering from blindness due to retinitis pigmentosa and advanced dry age-related macular degeneration. Retinitis pigmentosa is a genetic condition which leads to the progressive degeneration of the eyes and can result in severe vision loss and blindness. Age-related macular degeneration is a group of diseases which leads to deterioration of retina and central sense of vision. Macular degeneration is grounded on vascular pathology and ischemia of the central zone of the retina. Both diseases are currently incurable, available therapies only slow down the loss of vision but are unable to prevent it. Today in Russia retinitis pigmentosa affects about 50 000 and 100 000 in CIS countries. Retrosense technology aims to restore vision after the loss of receptors in the retina. Thanks to the therapy blind and visually impaired people both in Russia and from all the world will be able to restore vision.
The company plans to use this investment to prepare a package of pre-clinical data and initiate Phase I/II clinical study for the treatment of Retinitis Pigmentosa.
"The follow-on participation from the core investors demonstrates trust for RetroSense Therapeutics’ promise in ocular gene therapy," Their financing and support will enable us to move forward with broader reach and complete more quickly Phase I and II of clinical study for RST‐001 compound." said Sean Ainsworth , CEO of RetroSense Therapeutics.
In connection with this investment, Dmitry Kuzmin, Cand. Sc., of RBV Capital joined the Company’s board of directors. Dr. Kuzmin brings direct experience and knowledge of optogenetics in neurobiology through research conducted at Max Planck Institute for Brain Research (MPIH) and University College of London(UCL).
Alexey Konov, Managing Partner of RBV Capital, said: "We are honoured to team up with such esteemed investors. We have invested about 2 million dollars US in the deal and are happy to start cooperation with RetroSense team, waiting for breakthroughs in the near future. We also hope to establish the cooperation with Russian partners — the first contacts already took place under the recent Open innovations Forum where the CEO and founder Sean Ainsworth (Sean Ainsworth) and the chief technology developer, Professor Zhuo - Hua Pan (Zhuo-Hua Pan) delivered speeches at behest of the Forum's organizing committee".