NexThera Raises $16.7M for Ocular Disease Therapy

NexThera, a biopharmaceutical firm focused on innovative treatments for vision-impairing conditions, has successfully closed a $16.7 million Series B financing round. This significant capital infusion propels the company closer to its goal of transforming the treatment paradigm for ocular diseases, particularly wet age-related macular degeneration (wAMD).

The funding round was anchored by Woori Venture Partners, with substantial participation from existing investors KB Investment and Korea BMI. A robust cohort of new investors also joined, demonstrating strong market confidence in NexThera's technology. These include Yuanta Investment, MuirwoodSventures, Korea Development Bank Capital, K & Investment Partners, Mirae Asset Securities, Sventures, and Coolidge Corner Investment, among other venture capital and financial institutions.

At the heart of NexThera's development pipeline is NT-101, a groundbreaking topical eye drop designed to treat wAMD. This non-invasive approach aims to deliver therapeutic agents directly to the posterior segment of the eye, including the retina, circumventing the need for frequent, uncomfortable intravitreal injections. This innovation addresses a critical unmet need in a market where patient compliance and comfort are paramount.

Early clinical data for NT-101 is highly encouraging. The company recently completed Part 1 of its U.S. Phase 1/2a trial, revealing a notable mean improvement of 6.2 letters in best corrected visual acuity (BCVA) in the high-dose cohort. Part 2 of this trial is currently in progress, with further results anticipated. The potential of NT-101 was further recognized in April when it was selected for the prestigious Korea Drug Development Fund (KDDF) program.

The newly acquired capital will be strategically deployed to advance the ongoing U.S. clinical trials for NT-101 through completion. Furthermore, NexThera intends to leverage these funds to meticulously prepare for a future Initial Public Offering (IPO), signaling its ambition for significant growth and market presence. This funding positions NexThera to navigate the complexities of late-stage clinical development and public market readiness.

The global market for ophthalmic drugs is substantial, projected to reach tens of billions of dollars in the coming years, driven by an aging population and increasing prevalence of age-related eye conditions. NexThera's non-invasive delivery system for wAMD, a leading cause of vision loss in older adults, places it in a strong position to capture a significant share of this expanding market. The success of NT-101 could set a new standard of care, offering a more patient-centric alternative to existing treatments.

Park Se-kwang, CEO of NexThera, expressed confidence in the company's trajectory, stating, "We are committed to successfully concluding the current U.S. Phase 1/2a Part 2 trial for NT-101. Concurrently, we are systematically building the foundation for our next phase of growth, including our IPO aspirations, aiming to redefine the global landscape of ocular disease therapeutics."