SparingVision raises €75 Million Series B to Continue Building World-Leading Portfolio of Genomic Medicines for Ocular Disease
- Proceeds to fund first-in-human trials of breakthrough gene therapy products, SPVN06 and SPVN20, and advance CRISPR-based genome editing portfolio in collaboration with Intellia Therapeutics
- Series B was co-led by Jeito Capital and UPMC Enterprises, with participation from 4BIO Capital, Bpifrance, the RD Fund and Ysios Capital.
Paris, September 14, 2022 – SparingVision (“the Company”), a genomic medicine company developing vision saving treatments for ocular diseases,
today announces that it has raised €75 million in a Series B financing. The round was co-led by Jeito Capital (“Jeito”) and UPMC Enterprises, with additional participation from 4BIO Capital (“4BIO”), Bpifrance, the RD fund, venture arm of Foundation Fighting Blindness (“FFB”), and Ysios Capital (“Ysios”).
Proceeds from the financing will be used to fund the first-in-human trials of the Company’s two lead gene-independent assets, SPVN06 and SPVN20, as well as the development of genome editing assets through its collaboration with Intellia Therapeutics (NASDAQ: NTLA), a leading clinical-stage genome editing company. The financing extends SparingVision’s cash runway to the second half of 2025.
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 (AMD) with an initial focus on mid-stage Retinitis Pigmentosa (RP). RP is one of the most common IRDs that affects two million patients worldwide and is the primary target of SPVN06. Regulatory submissions are underway ahead of a first-in-human clinical trial, which is expected to start later this year, with first safety data anticipated in 2023 and initial proof-of-concept data in 2025.
SPVN20, SparingVision’s second asset, is a pioneering gene therapy product synergistic with SPVN06 which is aimed at restoring visual acuity and colour vision in advanced and late-stage RP. SPVN20 is expected to enter the clinic in 2024, with first safety and activity data expected in 2025.
The financing will also enable SparingVision to advance SPVN50, the first genome editing product in development as part of its collaboration with Intellia Therapeutics in an undisclosed ocular target, after the two companies signed a strategic collaboration last year. SPVN50 is in early discovery studies.
Stéphane Boissel, President and Chief Executive Officer of SparingVision, said: “Since our last financing, we have been laser-focused on building the world’s leading portfolio of genomic medicines in the ocular space. With this financing, we are taking a significant step towards achieving clinical validation of our two lead assets and bringing mutation-agnostic genomic medicines to millions of patients affected by IRDs and dry AMD. Our ambition does not stop here, and we remain fully concentrated on our three core pillars of exploration: our mutation-agnostic gene therapies, the genome editing technology toolbox of our strategic partner Intellia Therapeutics and the potential of in-vivo reprogramming in the retina. My thanks go to our investors for their continued support and to everyone at SparingVision for their hard work and dedication to bringing vision-saving treatments to patients.”
Sabine Dandiguian, Managing Partner at Jeito Capital, commented: “SparingVision has the ambition to become the world’s leader in ocular genomic medicines and has built a strong and broad pipeline that is poised to enter the clinic. The company has not stood still, progressing its lead asset SPVN06, signing a strategic collaboration with the world’s most exciting CRISPR-Cas9 company Intellia Therapeutics and adding another novel therapy with the acquisition of GAMUT Therapeutics. Jeito is committed to supporting innovative companies like SparingVision with the potential of bringing ground-breaking treatments to patients in need and we look forward to continuing to support the company’s progress.”
Jeanne Cunicelli, President at UPMC Enterprises, the innovation, commercialization and venture capital arm of the leading health system UPMC, commented: “Over the last two years, the team at SparingVision has made incredible progress in building its pipeline of synergistic genomic medicines that aim to go beyond existing treatments to solve limitations in this field. As innovators focused on the toughest problems in healthcare, UPMC Enterprises is proud to continue supporting SparingVision’s mission.”