Foundation research

Nacuity Pharmaceuticals Announces $16.5M Series B Funding Led by Foundation Fighting Blindness & RD Fund

FORT WORTH, Texas, June 15, 2022 (GLOBE NEWSWIRE) — Nacuity Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company developing treatments for retinitis pigmentosa, cataracts and other eye diseases caused by oxidative stress, announced today closed a $16.5 million Series B funding led by Foundation Fighting Blindness and its venture arm RD Fund. Other existing investors also participated in the round. Maxim Merchant Capital, a division of Maxim Group LLC, served as sole placement agent for the financing.

Proceeds from the financing will be used to support the advancement of Nacuity’s clinical trials for NPI-001 and NPI-002 through proof of concept, as well as for general operations. NPI-001 tablets are currently being evaluated in a Phase 1/2 clinical trial, known as the SLO-RP study (ClinicalTrials.gov Identifier: NCT04355689), in patients with retinitis pigmentosa associated with Usher syndrome. Nacuity expects to receive interim results from this study in the second quarter of 2023. NPI-002, a proprietary, sustained-release antioxidant molecule designed to slow the progression of cataracts administered via intravitreal implant, is being evaluated in a Phase 1/2 clinical trial currently underway recruiting patients undergoing vitrectomy in Australia (ClinicalTrials.gov Identifier: NCT05026632). Nacuity expects to have the results of this study in the second quarter of 2023.

“We are grateful for the support of Foundation Fighting Blindness, RD Fund, Maxim Merchant Capital and our private investors as we move forward with our core programs and seek to establish proof of concept,” said Halden Conner, Chief Executive Officer and co-founder of Nacuity Pharmaceuticals. “This funding will help us continue our mission of developing a breakthrough treatment for retinitis pigmentosa and other serious blinding and chronic diseases caused by oxidative stress.”

Nacuity’s advanced technology is based on studies by the laboratory of Dr. Peter Campochiaro to Wilmer Eye Institute involving oxidative stress in the retina. Oxidative stress has been implicated in a variety of eye conditions and diseases, including retinitis pigmentosa, cataracts, age-related macular degeneration, diabetic retinopathy, glaucoma, presbyopia, retinal detachment, and vitreous degeneration.

“We are proud to support Dr. Campochiaro’s research and Nacuity’s clinical trials as the company works diligently to develop treatments for eye disease,” said Benjamin R. Yerxa, Ph.D., CEO of Foundation Fighting. Blindness. “The Foundation Fighting Blindness looks forward to the results of the NPI-001 trial as the next step in addressing an unmet need, as retinitis pigmentosa affects approximately 1.5 million people worldwide and the majority of patients are legally blind at the age of 40.”

About Nacuity Pharmaceuticals
Nacuity Pharmaceuticals is a clinical-stage leader in innovative treatments for oxidative stress. The company’s potent, targeted therapies aim to halt oxidative tissue damage, a driver of blinding eye disease and a wide range of serious chronic diseases. Nacuity has three highly differentiated clinical programs underway in retinitis pigmentosa, cataracts and cystinosis with the potential to be novel therapies and gateways to broader applications. Based in Fort Worth, TX, the company has extensive managerial and scientific expertise as well as support from the Foundation Fighting Blindness (www.foundationfightingblindness.org) and its venture capital subsidiary RD Fund (https://www.retinaldegenerationfund.org). For more information, please visit www.nacuity.com.

About Foundation Fighting Blindness and RD Fund
Established in 1971, the Foundation Fighting Blindness is the world’s leading source of private funding for research into degenerative diseases of the retina. The Foundation has raised over $750 million for its mission to prevent, treat and cure blindness caused by the full spectrum of retinal degenerative diseases, including: retinitis pigmentosa, age-related macular degeneration , Usher syndrome and Stargardt disease. Visit www.FightingBlindness.org for more information.

Media Contact
Tony Plohoros
908-591-2839

[email protected]


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