SparingVision, a genomic medicine company developing vision-saving treatments for ocular diseases, has raised €75 million ($75 million) in series B financing.
The round was co-led by Jeito Capital and UPMC Enterprises, with additional participation from 4BIO Capital, Bpifrance, the RD fund, venture arm of Foundation Fighting Blindness, and Ysios Capital.
Proceeds from the financing will be used to fund the first-in-human trials of the company’s two lead gene-independent assets, SPVN06 and SPVN20. Funds will also be used to develop genome editing assets through its collaboration with Intellia Therapeutics, a clinical-stage genome editing company. The financing extends SparingVision’s funds to the second half of 2025.
SPVN06 is a breakthrough gene therapy approach aimed at stopping or slowing disease progression in patients affected by inherited retinal diseases (IRDs) and dry age-related macular degeneration (AMD) with an initial focus on mid-stage retinitis pigmentosa (RP).
RP is one of the most common IRDs, affecting two million patients worldwide and is the primary target of SPVN06. Regulatory submissions are under way ahead of a first-in-human clinical trial, which is expected to start later this year. Safety data anticipated in 2023 and initial proof-of-concept data in 2025.
SPVN20, SparingVision’s second asset, is a gene therapy product synergistic with SPVN06 which is aimed at restoring visual acuity and color vision in advanced and late-stage RP. SPVN20 is expected to enter the clinic in 2024, with first safety and activity data expected in 2025.
Strategic collaboration for SparingVision
The financing will also enable SparingVision to advance SPVN50, the first genome editing product in development as part of its collaboration with Intellia Therapeutics in an undisclosed ocular target, after the two companies signed a strategic collaboration last year. SPVN50 is in early discovery studies.
Stéphane Boissel, president and CEO of SparingVision, said: “Since our last financing, we have been laser-focused on building the world’s leading portfolio of genomic medicines in the ocular space. With this financing, we are taking a significant step towards achieving clinical validation of our two lead assets and bringing mutation-agnostic genomic medicines to millions of patients affected by IRDs and dry AMD.
“Our ambition does not stop here, and we remain fully concentrated on our three core pillars of exploration: our mutation-agnostic gene therapies, the genome editing technology toolbox of our strategic partner Intellia Therapeutics and the potential of in-vivo reprogramming in the retina. My thanks go to our investors for their continued support and to everyone at SparingVision for their hard work and dedication to bringing vision-saving treatments to patients.”