Restore Vision Raises 1.3 Billion Yen in Pre-Series B Round

Restore Vision Inc. (Minato-ku, Tokyo; Representative Directors: Yusaku Katada and Hikaru Miyazaki, hereinafter 'Restore Vision'), aiming for early practical application of visual restoration via gene therapy, announced that it has raised 1.3 billion yen in funding (hereinafter 'this funding') through the allocation of J-KISS type stock acquisition rights to 5 existing investors and 4 new investors. With this round, the company's cumulative equity financing amounts to approximately 3.5 billion yen. Furthermore, the cumulative amount of subsidies decided to be granted in conjunction with this funding is approximately 2.3 billion yen, bringing our total cumulative funding to over 5.8 billion yen. The funds raised this time will mainly be allocated to the expenses for promoting the global development of our lead pipeline, RV-001, as well as to research and development expenses including the second pipeline, and expenses for strengthening the management system and expanding personnel. Additionally, as a drug discovery venture supported by the 'Drug Discovery Venture Ecosystem Enhancement Project' (hereinafter 'this project') implemented by the Japan Agency for Medical Research and Development (AMED), the company has received a grant decision of approximately 2.1 billion yen. Combined with other subsidies, we have secured a total of approximately 2.3 billion yen in grants to date. Furthermore, through this project, we can receive up to an additional 4.5 billion yen in the future. With this, we plan to accelerate the clinical development of RV-001 on a global scale. Existing investors: Higo Capital, Kyoto University Innovation Capital, JIC Venture Growth Investments, Japan Science and Technology Agency, Remiges Ventures New investors: Astellas Venture Management, Ajinomoto, Shionogi & Co., Nippon Venture Capital - Seed Round (Third-party allotment): 0.3 billion yen - Pre-Series A Round (J-KISS type stock acquisition rights): 0.21 billion yen - Series A Round (Third-party allotment): 1.66 billion yen - Pre-Series B Round (J-KISS type stock acquisition rights): 1.3 billion yen - AMED Drug Discovery Venture Ecosystem Enhancement Project: 2.15 billion yen - AMED projects other than the above, other grants and subsidies: 0.2 billion yen Total: 5.82 billion yen For details on this project, please refer to the following information: - About the Drug Discovery Venture Ecosystem Enhancement Project https://www.amed.go.jp/program/list/19/02/005.html - About the adopted projects of the FY2023 'Drug Discovery Venture Ecosystem Enhancement Project (Drug Discovery Venture Public Offering)' (2nd round) for which Restore Vision was selected https://www.amed.go.jp/koubo/19/02/1902C_00036.html Restore Vision's lead pipeline, RV-001, is a gene therapy drug that mounts a proprietary light-sensor protein, 'chimeric rhodopsin', as a therapeutic gene on an AAV (Adeno Associated Virus) vector. Primarily targeting retinal diseases where photoreceptor cells that act as light sensors in the human retina are lost, the treatment aims to achieve visual restoration by administering RV-001 via intravitreal injection—a simple and minimally invasive method—and expressing chimeric rhodopsin in the surviving interneurons. This clinical trial will be the world's first clinical study as an optogenetic gene therapy using chimeric rhodopsin. Restore Vision Inc. was established in November 2016 based on the joint research results of Keio University School of Medicine and Nagoya Institute of Technology, aiming to realize visual restoration for blind patients suffering from retinal diseases through the clinical application of optogenetics technology. Setting our primary mission to promptly provide treatments to patients with blinding diseases for which no effective treatments currently exist, we are engaged in development and aim to contribute to the Japanese society and economy through the industrialization of gene therapy technology born from Japanese universities. Company Name: [Company Name continues...]