Breye Therapeutics Raises €67.5 Million in Over-Subscribed Series A Financing
Breye Therapeutics, a clinical-stage biopharmaceutical company developing oral therapeutics for the early treatment of retinal diseases, led by Ulrik Mouritzen, MD, EMBA, and the team, has raised an oversubscribed €67.5 million Series A financing round. The round was co-led by new investor Mission BioCapital and existing investor Novo Holdings, with participation from existing investor Sound Bioventures and additional new investors including the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures and Pappas Capital.
Breye will use the funding to advance its lead drug candidate, danegaptide, into a randomized Phase 2 trial for patients with non-proliferative diabetic retinopathy (NPDR), with the study expected to begin in 2027. Mission BioCapital’s Robert Blazej and Lukas Ljungström of the Ljungström family office will join the company’s board.
The financing follows the publication of research on danegaptide’s preclinical and early clinical evidence in Science Translational Medicine.
Ulrik Mouritzen, Chief Executive Officer, Breye Therapeutics, said: “This €67.5m Series A financing, which includes significant support from both new and existing investors, reflects the strong confidence in Breye’s vision, strategy, and pipeline. It marks a major milestone for the Company and validates the enormous progress we have made to date. Importantly, it enables us to advance danegaptide, our pioneering, first-in-class oral treatment for diabetic retinopathy, to the next stage of clinical development – bringing a much-needed patient-friendly treatment option closer to those living with this debilitating eye disease.”
Robert Blazej, Partner, Mission BioCapital, said: “Breye is emerging as a leader in the development of innovative retinal disease therapies, as demonstrated by the promising results from its recent Phase Ib study of danegaptide, and we are excited to support the Company at this pivotal stage of growth. With its highly differentiated approach, clear development strategy and experienced team, we believe Breye is uniquely positioned to address a significant unmet need in diabetic retinopathy.”
Jørgen Søberg Petersen, Senior Partner, Novo Holdings, said: “Danegaptide has the potential to address a major unmet need in diabetic retinopathy, by offering what we believe will be a highly effective, non-invasive treatment solution. Our continued investment in Breye Therapeutics reflects the strong progress the Company has made and our confidence in the team. Breye is purposefully advancing its mission of delivering innovative therapies for patients with retinal eye diseases, who have very limited treatment options, and we are very proud to continue to support the team.”
Danegaptide is a first-in-class oral small molecule designed to stabilize retinal blood vessels and prevent capillary breakdown and leakage caused by chronically high blood glucose levels. A Phase 1b trial in patients with non-proliferative diabetic retinopathy (NPDR) showed good tolerability across all doses and early signs of clinical activity, including reduced vascular leakage in retinal imaging.
Diabetic retinopathy affects approximately 130 million people worldwide, yet treatment options for early and moderate stages remain limited. Existing injectable therapies primarily address later-stage disease and can face adherence challenges due to their invasive nature. An oral treatment could offer a complementary, less invasive option for patients.
The funding will also advance Breye’s broader pipeline, including a P2X7 receptor antagonist for intermediate age-related macular degeneration (iAMD) and neuroprotective drug candidates for glaucoma, which are progressing towards IND-enabling studies.
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