#Japan #Tokyo #gene therapy #Restore Vision #RV-001

Restore Vision Secures 1.3 Billion Yen in Pre-Series B Funding to Advance Gene Therapy for Vision Restoration

Restore Vision's Recent Funding Achievement

Overview of the Funding

Restore Vision, Inc., a Tokyo-based company focused on gene therapy for vision restoration, announced its successful completion of a Pre-Series B funding round, raising 1.3 billion yen (approximately $11.5 million). The investment comes from five existing investors and four new investors, utilizing J-KISS type stock acquisition rights. This latest fundraising effort brings the company’s total capital raised to about 3.5 billion yen (around $30 million) through equity financing. Including grants awarded, Restore Vision's cumulative funding now exceeds 5.8 billion yen ($50 million).

Purpose of the Funding

The newly raised funds will primarily be allocated towards the international development of its lead pipeline, RV-001, which aims to implement a clinical gene therapy strategy utilizing optogenetics. Additionally, this capital will support research and development costs for the company’s second pipeline, strengthen management systems, and facilitate staff expansion. Restore Vision is recognized as a supported venture in the “Drug Discovery Venture Ecosystem Strengthening Project” by the Japan Agency for Medical Research and Development (AMED), having already secured about 2.1 billion yen in grants from this initiative. Furthermore, through this program, the company may receive additional funding of up to 4.5 billion yen.

Investor Details

The funding round includes a mix of existing and new investors. Existing stakeholders consist of:

- Higin Capital
- Kyoto University Innovation Capital
- JIC Venture Growth Investments
- Japan Science and Technology Agency
- Remiges Ventures

The new investors include:

- Astellas Venture Management
- Ajinomoto
- Shionogi & Co., Ltd.
- Japan Venture Capital

Previous Fundraising Rounds

Over the years, Restore Vision has successfully completed several rounds of funding, demonstrating growing confidence in its innovative approach:

- Seed Round: 300 million yen
- Pre-Series A Round: 210 million yen
- Series A Round: 1.66 billion yen
- Pre-Series B Round: 1.3 billion yen
- AMED Drug Discovery Support: 2.15 billion yen
- Other grants: 200 million yen

In total, the fundraising efforts have amassed over 5.82 billion yen.

About AMED’s Drug Discovery Project

For more detailed information on AMED’s project to strengthen the drug discovery ecosystem, follow these links:

Insights on RV-001

RV-001 is a cutting-edge gene therapy utilizing AAV (Adeno Associated Virus) vectors, designed to deliver a unique light-sensitive protein known as chimeric opsin. This innovative treatment targets retinal diseases characterized by the loss of light-sensing photoreceptors. RV-001 is delivered through a minimally invasive vitreous injection method, aiming to express chimeric opsin within residual interneurons, potentially restoring vision. This clinical trial marks the world’s first clinical study employing optogenetics for vision restoration.

Company Background

Restore Vision, Inc. was founded in November 2016, based on collaborative research from Keio University School of Medicine and Nagoya Institute of Technology. The company’s mission is to advance clinical applications of optogenetics technology, specifically for patients blinded by retinal disorders, striving to provide quicker access to effective treatments. By industrializing gene therapy technologies originating from Japanese universities, Restore Vision aims to contribute to society and the economy.

Company Details

- Name: Restore Vision, Inc.
- Headquarters: 1-17-1, Toranomon, Minato-ku, Tokyo, Toranomon Hills Business Tower, 15th Floor
- Executives: Yusaku Katada (CEO), Teru Miyazaki (COO)
- Established: November 14, 2016
- Business Focus: R&D of regenerative medicine products
- Website: Restore Vision