Aviceda Raises $207.5M for AVD-104 Phase 3 Trial

Aviceda Therapeutics has successfully closed a $207.5 million Series C financing round to advance its lead treatment candidate, AVD-104, into a pivotal Phase 3 clinical trial for geographic atrophy (GA) secondary to advanced age-related macular degeneration (AMD). The funding will also support the development of AVD-104 for other ophthalmic indications.

AVD-104: A Dual-Mechanism Therapy

AVD-104 leverages a unique dual mechanism of action to address:

• Immune Modulation: By repolarizing overactivated macrophages to their reparative state.

• Complement Inhibition: By stabilizing complement factor H, critical to reducing inflammation.

Promising Early Results

• Preclinical studies and a Phase 2a trial completed in early 2024 demonstrated:

- Slowed progression of GA lesions.

- Improvements in visual function.

Phase 2b/3 Clinical Trial

Aviceda’s fully enrolled Phase 2b/3 trial is evaluating two doses of AVD-104 against avacincaptad pegol (Izervay) in GA patients.

• Primary Endpoint Data: Expected in the second half of 2025.

Strategic Series C Financing

Key Investors

The Series C round was co-led by Omega Funds and TCGX, with substantial backing from a diverse group of prominent investors, 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. This significant investor support highlights the confidence in Aviceda’s innovative approach to tackling geographic atrophy and advancing cutting-edge ophthalmic therapies.

Leadership and Governance Additions

This funding round brings strategic additions to Aviceda’s Board of Directors:

• Bernard Davitian, Omega Funds

• Chen Yu, MD, TCGX

• Evelyn Harrison, former COO of Iveric Bio (now part of Astellas Pharma)

Board Observers include:

• Sara Nayeem, MD, Enavate Sciences

• Rafaèle Tordjman, MD, PhD, Jeito Capital

These additions further strengthen Aviceda’s leadership with expertise in biotechnology innovation and investment.

Conclusion

The Series C financing marks a significant milestone for Aviceda Therapeutics as it advances AVD-104 into Phase 3 testing. With its novel dual mechanism of action and promising early results, AVD-104 has the potential to become a transformative therapy for GA and other ophthalmic conditions, offering hope to patients worldwide.