Arctic Vision Announces US$32MN in Series A to Expand Innovative Product Portfolio in Ophthalmology

Arctic Vision, a clinical-stage biotechnology company incubated by Nan Fung Life Sciences and Pivotal BioVenture Partners China in 2019, today announced its $32mn Series A financing led by Morningside Ventures, together with its existing investors. Arctic Vision focuses on the development and commercialization of innovative ophthalmology therapies in China and Asia. The three investment institutions are actively investing in leading life science companies in the world with long term commitment. Arctic Vision will use the proceeds to gear up the clinical trials for ARVN001. ARVN001 is a proprietary suspension of the Triamcinolone Acetonide formulated for Suprachoroidal Space (SCS) administration via proprietary SCS Microinjector™ (known as XIPERE™ in the US). The first pursued indication in China will be macular edema associated with uveitis (UME). This innovative therapy is developed by Clearside Biomedical, Inc. Arctic Vision has exclusive rights to develop and commercialize the product in Greater China and South Korea. Arctic Vision also plans to use the proceeds to expand its innovative product portfolio in ophthalmology, while building in-house R&D capabilities at the same time. The company's goal is to address unmet medical needs in the ophthalmology field, and to bring in cutting-edge drug delivery technologies and treatment options to the Asian market, especially China.