Aviceda Therapeutics completes $207.5 million Series C financing in support of AVD-104 for geographic atrophy treatment

(Image Credit: AdobeStock/Aleksandra Ermilova)

Aviceda Therapeutics has secured a $207.5 million Series C financing to support its ongoing phase 2b/3 and planned pivotal phase 3 clinical trial for AVD-104 in geographic atrophy (GA).

According to a press release from the company¹, the Series C round was co-led by healthcare funds, Omega Funds and TCGX, with participation from multiple other investment firms including Enavate Sciences, Jeito Capital, Blue Owl Healthcare Opportunities, Longitude Capital, OrbiMed, Logos Capital, Marshall Wace, Catalio Capital Management, funds managed by abrdn Inc., and Digitalis Ventures.

The phase 2b/3 study will compare the safety and efficacy of high- and low-dose AVD-104 and avacincaptad pegol (IZERVAY, Iveric Bio), of which enrollment was completed in September 2024.

Part 1 of the phase 2b study is a multicenter, open-label safety and dose-escalation study in patients with GA secondary to AMD. The participants will be treated with 1 intravitreal injection of AVD-104 and followed for 3 months for the observation. Aqueous humor and peripheral blood will be drawn for pharmacokinetic and pharmacodynamic evaluations.²

Part 2 of the phase 2b study is a multicenter, double-masked, randomized trial to evaluate the treatment effect of AVD-104 on participants with GA secondary to AMD. In this segment, the patients will be randomized to receive either high-dose AVD-104 every other month, low-dose AVD-104 monthly, or avacincaptad pegol monthly. The primary endpoint will be the difference in the growth rate of the GA area at 12 months in patients treated with AVD-104 versus those receiving avacincaptad pegol.²

Twelve-month primary endpoint data is anticipated from the phase 2b/3 trial in the second half of 2025.

The company also announced that in connection with the Series C financing, Bernard Davitian of Omega Funds and Chen Yu, MD, MBA, of TCGX have joined Aviceda’s Board of Directors.

References:

1. Aviceda Therapeutics Raises Upsized $207.5 Million in Series C Financing Round to Advance Lead Program AVD-104 for Geographic Atrophy into Pivotal Trials. Press Release. Published January 6, 2025. Accessed January 7, 2025. https://www.businesswire.com/news/home/20250107381552/en/Aviceda-Therapeutics-Raises-Upsized-207.5-Million-in-Series-C-Financing-Round-to-Advance-Lead-Program-AVD-104-for-Geographic-Atrophy-into-Pivotal-Trials

2. Enrollment complete of phase 2b of SIGLEC study to assess safety and efficacy of AVD-104 for GA secondary to AMD. Charters, Lynda. Published September 24, 2024. Accessed January 7, 2025. https://www.ophthalmologytimes.com/view/enrollment-complete-of-phase-2b-of-siglec-study-to-assess-safety-and-efficacy-of-avd-104-for-ga-secondary-to-amd