Spin-out company from IN secures funding to develop treatments for retinal neuroprotection

RetiPharma, a spin-out company formed by scientists at the Department of Neuroscience that focuses on the development of treatment of degenerative eye disorders has secured funding from the Novo Nordisk Foundation’s BioInnovation Institute (BII). The official opening of BII was 20 Nov this year. The funding will be used to prepare its lead drug RP001 for a clinical proof-of-concept study in patients with retinal detachment as well as to insource additional compounds using RetiPharma’s translational platform. RP001 is a new peptide drug for intravitreal [eye] injection that already has demonstrated functional improvement of the vision as well as neuroprotection in several in vivo models. The BII has provided EUR 1,3 million as funding in a convertible note which paid in tranches according to achievement of agreed milestones. “RetiPharma has a skilled team with lots of passion for their exciting new concept that addresses an unmet medical need in treating degenerative eye disorders. “We are happy to have RetiPharma in our newly opened incubator,” says Thomas Nagy, Director of BII.

“We are very pleased to have secured funding which offers a perfect platform for further development of RetiPharma. We have already started the process to prepare for the next financing round to strengthen our program” says Henrik Vissing, CEO. RetiPharma is supported by a team of basic scientists and clinicians led by David Woldbye, Assoc Prof at the department and Kristian Klemp, MD Chief Physician, specialised in retinal surgery at Rigshospitalet. Dr. Woldbye has been exploring effects of neuropeptides at the University of Copenhagen the last 20 years, and RetiPharma is the third company based on his research.

Assuming the positive in vivo effects of RP001 can be demonstrated in patients with retinal detachment, it will open up a potential to explore this novel target in other degenerative eye disorders, including retinal vein occlusion, acute glaucoma, and diabetic macular edema. The translational in vivo platform has been developed in parallel with the groundwork of RP001 that have already demonstrated effect on end-points that are relevant for clinical studies in man. RP001 could reach the market under an accelerated regulatory process as early as 2023,

“The initiative taken by the Novo Nordisk Foundation to establish the BII is an amazing contribution to the Nordic /Danish community of life science start-ups. We in RetiPharma have been very pleased with the collaboration and to see RetiPharma entering the spotlight of promising companies”, says Morten Albrechtsen, Chairman of RetiPharma.