A stealthy Raleigh startup tackling blindness is looking to raise millions in venture financing.
Opus Genetics has closed on $9.5 million in equity from five investors, according to a securities filing. But it’s targeting a much larger round, at $19 million, according to the disclosure.
Company officials declined to comment on the raise, a spokeswoman said.
The firm, according to its website, is a gene therapy company “tackling manufacturing obstacles standing in the way of treatments for ultra-rare blinding conditions.” Specifically, it’s working on therapies to treat ultra-rare retinal degenerative diseases.
And it has some heavy hitters in the space in its boardroom, such as Ben Yerxa, the CEO of Foundation Fighting Blindness.
Opus is one of a handful of life sciences-focused firms to close on raises in just the past few weeks. Other local startups to close on capital in August include Evecxia ($8.6 million) and Polaris Quantum Biotech ($2.9 million).
Opus is one of a few firms in the region specifically targeting eye disorders.
Atsena Therapeutics, for example, is a Durham firm targeting on gene therapies to treat blindness disorders in children. It raised $55 million in a round that closed last year. And there’s a touchpoint with Opus: Yerxa, who is listed as board chairman on Opus’s website, has been a board member at Atsena since last year.
It’s unclear who has invested in the Opus Genetics round so far, as the firm declined to talk about the raise on Monday, but all four of the leaders listed on the firm’s website are involved with Foundation Fighting Blindness, which has a venture arm, RD Fund. The fund backs Atsena and other startups in the space.