Neurophth Therapeutics, Inc., a gene therapy company for ophthalmic diseases, reported the closing of nearly $95 million in Series C+ financing. The round was co-led by Yangtze River-CMB International Industry Fund, Wuhan Optical Valley Financial Holding Group, Wuhan Hi-Tech Holding Group, Hubei KTLC and Guangzhou Jinkong Fund. The raised funds will be directed towards advancing clinical trials for Neurophth’s core products, enhancing the firm’s R&D capabilities, and expanding its pipeline.

In early 2023, Neurophth’s leading candidate NR082 (rAAV2-ND4) became the first gene therapy drug to complete patient enrollment for a Phase III clinical trial in China. Additionally, the company concluded the enrollment of the first patient for Phase I/II clinical trials in the U.S. NFS-02, Neurophth’s second candidate and the world’s sole gene therapy targeting ND1-LHON, is under development and has received IND approval from both the China National Medical Products Administration (NMPA) and the U.S. FDA. Currently, Neurophth is conducting a global multi-center clinical trial of the drug candidate. 

“We’re honored to have earned the trust of top investment institutions in the biopharmaceutical sector,” said Bin Li, Founder, Chairman and CEO of Neurophth. “Since the beginning of this year, we’ve made substantial progress in the clinical trials of our products. We plan to keep focusing on developing gene therapies for ophthalmic patients worldwide. With the support of our investors and our technological acumen, we’re positioned to accelerate our clinical trials and R&D of new drugs, delivering gene therapies to patients more quickly.”