Aviceda Secures $200M Series C Funding to Advance Ocular Drug AVD-104 into Late-Stage Trials

Funding:
Aviceda Therapeutics has announced a $200 million Series C funding round to support the late-stage clinical development of its ocular drug candidate, AVD-1043.

Clinical Trials:
AVD-104 is being evaluated in Phase II/III trials for geographic atrophy (GA) secondary to age-related macular degeneration (AMD) and in a Phase 2 trial for diabetic macular edema (DME)14.

Drug Mechanism:
AVD-104 is a glycan-coated nanoparticle with a dual mechanism of action that modulates inflammatory cellular and complement pathways, offering potential therapeutic advantages in treating GA and DME4.

Trial Progress:
Part 1 of the Phase II/III SIGLEC trial for GA has shown positive safety and efficacy outcomes, leading to the initiation of Part 2, which will compare AVD-104 with an active comparator, avacincaptad pegol1.

Company Background:
Aviceda Therapeutics is a private, late-stage clinical biotechnology company based in Cambridge, MA, with a proprietary HALOS nanotechnology platform4.

Sources:

1. https://www.ophthalmologytimes.com/view/aviceda-begins-part-2-of-phase-ii-iii-trial-for-geographic-atrophy

3. https://endpts.com/aviceda-aims-to-raise-200m-nerviano-gets-back-rights-to-parp1-inhibitor/

4. https://www.businesswire.com/news/home/20240109176126/en/Aviceda-Announces-First-Patient-Enrolled-in-Phase-2-GLYCO-Clinical-Trial-Evaluating-AVD-104-for-the-Treatment-of-Diabetic-Macular-Edema