Character Biosciences announced the completion of an oversubscribed $93 million Series B financing round, which will be used to accelerate the development of precision therapies for degenerative eye diseases, starting with age-related macular degeneration (AMD).

According to a company news release, Character Bio has partnered with over 150 ophthalmology treatment centers across the US to conduct an observational trial integrating genetics with longitudinal clinical and imaging data from over 6,500 consented patients. This proprietary resource allows the company to reclassify AMD into genetically defined subtypes, identify and prioritize therapeutic targets, and optimize patient selection for clinical trials.

This strategy has enabled the discovery of Character Bio’s lead candidates, CTX203 and CTX114. CTX114, a complement inhibitor, is designed to slow the progression of geographic atrophy (GA) in advanced dry AMD. Meanwhile, CTX203, a first-in-class lipid regulator, aims to prevent disease progression to advanced AMD. Both programs are expected to enter clinical trials within the next year.

“Millions of patients suffering from degenerative eye diseases lack effective treatments that delay disease progression,” said Cheng Zhang, CEO & Co-Founder of Character Biosciences. “By identifying the genetic modifiers of disease progression, we can develop therapeutics that more precisely target the root causes and improve clinical outcomes. This funding enables us to advance our lead programs into first-in-human trials, bringing hope to those in need.”

The round was co-led by new investors aMoon and Luma Group, with additional participation from Bausch + Lomb and Jefferson Life Sciences. Existing investors Innovation Endeavors, Catalio Capital Management, S32, and KdT Ventures also contributed to the financing.

“The next frontier of precision medicine lies at the convergence of genomics, deep phenotyping, and AI applied to complex polygenic disorders. Character Bio is uniquely integrating these historically siloed disciplines to drive innovation in AMD treatment," Reut Shema, PhD, Partner at aMoon, said in the news release.

The Series B funding will support phase 1 and phase 2 proof-of-concept studies for CTX203 and CTX114, while also facilitating the expansion of Character Bio’s pipeline into additional ophthalmic diseases. In January 2025, the company announced a collaboration with Bausch + Lomb, which includes an upfront payment and potential future development and sales-based milestones and royalties for novel AMD therapeutics.