Ashvattha Therapeutics has secured additional financing up to US$50 million (NZ$88.4m) for its at-home monthly subcutaneously-administered treatment for neovascular age-related macular degeneration (nAMD) and diabetic macula oedema (DMO), which has recently demonstrated substantial reduction in treatment burden in interim phase 2 trial results, said the company.
The ongoing trial in patients with nAMD (wet AMD) and DMO is evaluating the novel, proprietary nanomedicine, migaldendranib (a hydroxyl dendrimer therapeutic or HDT), which is administered every two or four weeks for up to 40 weeks after a single intravitreal injection of aflibercept (2mg). Subjects completing 24 weeks have needed less supplemental aflibercept compared to 24 weeks prior to enrolment, while visual acuity has been maintained, and sustained reductions in subretinal fluid have been observed with an excellent safety profile, said an Ashvattha statement.
Unlike all other clinical stage approaches, this demonstrates a benefit to patients who have bilateral disease with a well-tolerated systemic therapy, said Ashvattha CEO Jeff Cleland. “Over 40% of wet AMD and over 90% of DMO subjects in our trial had bilateral disease that would require both eyes to receive injections of current products or clinical candidates. We look forward to sharing detailed results at upcoming medical conferences in 2025.”
The additional funding is led by Tribe Capital with existing investors led by Natural Capital and will enable Ashvattha to complete the ongoing phase 2 ophthalmology trial and phase 1/2 neuroinflammation trial.
