Danish biopharmaceutical company Breye Therapeutics has raised €67.5 million in an oversubscribed Series A funding round. The company is developing oral medicines aimed at treating retinal diseases at an early stage.
The funding round was co-led by new investor Mission BioCapital and existing investor Novo Holdings. Existing investor Sound Bioventures also participated, along with new investors including the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures, and Pappas Capital.
As part of the financing, Robert Blazej, Partner at Mission BioCapital, and Lukas Ljungström from the Ljungström family office will join Breye Therapeutics’ board. The new funding will support the company as it continues developing its oral treatments for retinal diseases.
Ulrik Mouritzen, Chief Executive Officer, Breye Therapeutics, said, “This €67.5 million 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.”
Breye Therapeutics was founded in 2019 and came out of stealth mode in November 2022 after raising €4 million in a Seed funding round led by Novo Holdings and Sound Bioventures.
The company is led by Mouritzen, a medical doctor with more than 20 years of experience in R&D, regulatory affairs, and commercial operations across Europe and the US.
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.”
Breye Therapeutics plans to use the new funding to move its lead drug candidate, danegaptide, into a randomised Phase 2 clinical trial for patients with non-proliferative diabetic retinopathy (NPDR).
The trial is designed to test whether danegaptide can show early clinical benefits and provide proof of concept. Breye expects the Phase 2 study to begin in 2027.
The funding will also support Breye’s wider pipeline of oral small-molecule treatments. This includes a P2X7 receptor antagonist for intermediate age-related macular degeneration (iAMD), which is being developed to help reduce nerve damage and inflammation. The company is also working on glaucoma treatments with potential neuroprotective effects, which are moving toward studies required before clinical trials.
