VISION: Deerfield Management and KKR invest in cell therapy company Aurion Biotech


Published on 04/16/2022


Seattle-based Aurion Biotech is a developer of regenerative therapies for vision loss. Aurion Biotech secured $120 million in funding led by Deerfield Management, and included existing investors Petrichor Healthcare Capital Management, Flying L Partners, Falcon Vision, a KKR-backed ophthalmology-focused investment platform, and Visionary Ventures, a company focused on ophthalmology. venture capital funds. Alcon also participated in the financing. Funds raised will be disbursed to Aurion Biotech based on the achievement of key clinical and operational milestones.

KKR formed Falcon Vision in February 2019 and funding came from KKR’s Healthcare Strategic Growth Fund. Falcon Vision sources, evaluates and provides operational and financial capabilities to a diverse group of emerging ophthalmic medical device and biopharmaceutical companies.

Aurion Biotech’s lead candidate is a cell therapy for the treatment of corneal edema secondary to endothelial dysfunction. The cell therapy is being developed by eye surgeon and researcher Professor Shigeru Kinoshita and his colleagues at Kyoto Prefecture Medical University (KPUM) in Japan. Aurion Biotech acquired this technology in 2020. Aurion Biotech is currently preparing to submit a J-NDA for market approval in Japan, and an IND to initiate clinical trials in the United States. millions of people around the world. When corneal endothelial cells die or break down, they do not regenerate. Ultimately, loss of corneal endothelial cells can cause corneal edema and loss of vision.

Aurion Biotech intends to use the proceeds of this financing to advance its cell therapy program for corneal edema secondary to endothelial dysfunction, which affects approximately 16 million people in the United States, Europe. and Japan.

Advisors
Raymond James acted as exclusive financial advisor to Aurion Biotech in connection with this offer.

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