RD Fund Participates in a €75 Million Series B for SparingVision
The Foundation in the News
Proceeds to fund first, in-human trials of breakthrough gene-agnostic therapy products and advance CRISPR-based genome editing portfolio.
Raleigh, NC – September 15, 2022 – Today, the RD Fund (Retinal Degeneration Fund) – the venture arm of the Foundation Fighting Blindness aimed at rapidly driving research toward preventions, treatments, and cures for the entire spectrum of retinal degenerative diseases – announces its participation in a €75 million Series B financing for SparingVision. The round was co-led by Jeito Capital and UPMC Enterprises, with participation from 4BIO Capital, Bpifrance, Ysios Capital, and the RD Fund.
SparingVision is a genomic medicines company with a mission to translate pioneering science into vision saving treatments. Leveraging its unparalleled understanding of retinal diseases, SparingVision has built the world’s most compelling portfolio of synergistic cutting-edge gene therapy and genome editing treatments for inherited retinal diseases (IRDs). Both of its most advanced products, SPVN06 and SPVN20, go beyond single gene correction therapies to deliver new mutation-agnostic treatments for retinitis pigmentosa (RP), a group of IRDs which are a leading cause of blindness globally.
“Our investment reflects the long-term funding and investment strategies of the Foundation and the RD Fund to bring forward a pipeline of novel therapeutics, including SparingVision’s genetic medicines,” said Rusty Kelley, PhD, MBA, managing director, RD Fund and SparingVision board director. “Participating in a round of this level and in this market with a strong syndicate speaks to our confidence in SparingVision and their promising pipeline.”
Proceeds from the financing will be used to fund the first, in-human trials of the company’s two lead gene-agnostic assets, SPVN06 and SPVN20, as well as the development of genome editing assets through its collaboration with Intellia Therapeutics, a leading clinical-stage genome editing company.
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 (dAMD), with an initial focus on mid-stage retinitis pigmentosa (RP). SPVN20, SparingVision’s second asset, complements SPVN06, which is aimed at restoring visual acuity and color vision in advanced and late-stage retinitis pigmentosa. The financing will also enable SparingVision to advance SPVN50, the first genome editing product in development, as part of its collaboration with Intellia Therapeutics.
About the RD Fund
The RD Fund (Retinal Degeneration Fund) is the venture arm of the Foundation Fighting Blindness, and a leading investor in the inherited retinal disease space. It was established in 2018 to serve the Foundation’s mission to rapidly drive research toward preventions, treatments, and cures for the entire spectrum of blinding retinal diseases including: retinitis pigmentosa, macular degeneration, and Usher syndrome RD Fund focuses on mission-related investments in companies with projects nearing clinical testing. Visit RDFund.org for more information.
About the Foundation Fighting Blindness
Established in 1971, the Foundation Fighting Blindness is the world’s leading private funding source for retinal degenerative disease research. The Foundation has raised more than $856 million toward its mission of accelerating research for preventing, treating, and curing blindness caused by the entire spectrum of blinding retinal diseases including: retinitis pigmentosa, macular degeneration, and Usher syndrome. Visit FightingBlindness.org for more information.