Denmark-based Breye Therapeutics ApS raised EUR 67.5 million in an oversubscribed Series A financing co-led by Mission BioCapital and Novo Holdings to advance oral small molecule danegaptide into a randomized Phase II trial in non-proliferative diabetic retinopathy (NPDR).
The round also included existing investor Sound Bioventures and new investors including the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures, and Pappas Capital. Breye said the proceeds will fund the Phase II study, expected to begin in 2027, as well as continued development of its broader oral retinal-disease pipeline.
Danegaptide is designed to stabilize the retinal vasculature and reduce capillary breakdown and vascular leakage associated with diabetic retinopathy. A completed Phase Ib study in 24 patients with NPDR and associated macular edema found the drug was well tolerated and showed early signs of clinical activity, including retinal imaging changes consistent with reduced vascular leakage.