Breye raises €68M Series A for oral diabetic blindness drug
What's the deal? Breye TherapeuticsDealroom has a profile for this one. Try Dealroom →, a Danish biotech, has raised an over-subscribed €67.5m ($76.7m) Series A to advance its lead drug, danegaptide, into a mid-stage trial. The round was co-led by new investor Mission BioCapitalDealroom has a profile for this one. Try Dealroom → and an existing backer.
What's the endgame? Danegaptide is a first-in-class oral treatment for non-proliferative diabetic retinopathy, a leading cause of blindness in working-age adults. The financing takes the drug into a Phase II trial.
Why now? Breye is betting the oral medication can protect against vision-threatening damage before it progresses. Diabetic retinopathy remains a major unmet need, and most current treatments are delivered by injection into the eye.
The signal: The round ranks among the largest Series A financings for a Danish health startup — above the 97th percentile of more than 2,000 comparable deals. It points to sustained investor appetite for late-stage biotech with a differentiated delivery route.
Read more: insights.citeline.com
Image credit: Breye Therapeutics
