LambdaVision Closing of Seed Round to Advance Artificial Retina Preclinical Studies
LambdaVision, which is developing a protein-based artificial retina to help patients regain sight lost to retinal degenerative diseases, announced it secured the first closing of its seed round. The proceeds will be used to fund LambdaVision’s GMP manufacturing scale up and critical IND-enabling efficacy and toxicity studies, advancing LambdaVision closer to clinical trials initially targeted for blind patients with advanced retinitis pigmentosa (RP).
The financing is led by Aurelia Foundry Fund, a fund spun out of MIT. The round also includes investment from Boryung, a publicly listed Korean pharmaceutical company, and E2MC Ventures. The targeted raise will
“This support from the Aurelia Foundry Fund and other high-profile investors underscores the potential of our approach toward treating retinal degenerative diseases and further validates our innovative space-based manufacturing approach to benefit those on Earth,” Nicole Wagner, PhD, CEO of LambdaVision, said in a company news release. “We are grateful for the support of our new partners and hope to welcome additional institutions or qualified investors to fill the seed round.”
LambdaVision is developing the first protein-based artificial retina to restore meaningful vision for patients who are blind or have lost significant sight due to RP and age-related macular degeneration (AMD). While the preclinical studies are being conducted on Earth, LambdaVision is optimizing assembly of its artificial retina in low-Earth orbit. Because of the unique behavior of solutions and thin films that make up the layers of the artificial retina, production efficiency and product quality may be improved in microgravity, according to LamdaVision.
The protein-based artificial retina is developed through a layer-by-layer production process alternating layers of the protein, bacteriorhodopsin, and a polymer, supported by a membrane of a synthetic fiber that has long been used by the medical community. By using a protein similar to the visual pigment rhodopsin that is naturally occurring in our eyes, LambdaVision’s patent-protected artificial retina mimics the light-absorbing properties of human photoreceptors.
Separately, the company has recently received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a worldwide patent application, which includes a definition of the production process and functional features of the artificial retina technology.