India, 11th August 2025: Eyestem Research Pvt Ltd has raised funds in a significantly oversubscribed funding round to support the next stage of development for its investigational retinal pigment epithelial (RPE) cell therapy, Eyecyte-RPE™.
The capital will enable completion of the ongoing Phase 2 clinical trial in India and support preparations for filing an Investigational New Drug (IND) application with the US Food and Drug Administration (FDA).
“Strong participation by internal investors and addition of a strategic investor, underline the shared belief in Eyestem’s long-term vision of creating an innovative cell therapy platform providing scalable solutions for incurable diseases worldwide. This $10 million fundraise will support the next leg of development and strengthen the foundation for global expansion. We continue to prioritize rigorous clinical progress and the capabilities needed to ensure global patient access to this therapy,” said Dr. Jogin Desai, Founder and CEO, Eyestem.
(L to R) Dr Jogin Desai, Dr Rajani Battu & Dr Rajarshi Pal
In a joint statement, Mr. Raju Barwale, Chairman, Mahyco and Mr. Sandeep Singh, Managing Director, Alkem Laboratories Ltd, added, “ Eyestem’s pioneering treatment is delivering remarkable outcomes that set a new benchmark in ophthalmic cell therapy. The results observed in Phase 1 not only demonstrate promising efficacy compared to other ongoing global trials but also validate India’s potential as a leader in advanced cell therapy innovations. We are privileged to support a breakthrough that has the potential to redefine treatment outcomes for millions suffering from dry AMD.”
Eyecyte-RPE™ is being developed for patients with geographic atrophy (GA) secondary to dry age-related macular degeneration (dry AMD). In the recently concluded Phase 1 trial in subjects with advanced GA and severe vision loss, the therapy showed a strong safety profile with no serious adverse events and early signs of clinical benefit, with an average improvement of 15.8 letters for six subjects at the end of six months and an average improvement of 11 letters in the first two subjects over a one year period. The upcoming Phase 2 trial will further assess the efficacy and safety of the product in a larger group of subjects with moderate GA and vision loss.
The company has submitted its Phase 1 clinical study report to the Central Drugs Standard Control Organisation (CDSCO) and is awaiting approval to initiate Phase 2.
For more information, please visit: https://clinicaltrials.gov/study/NCT06394232
About Eyecyte-RPE™
Eyecyte-RPE™, derived from human induced pluripotent stem cells (hiPSCs), is a proprietary retinal cell therapy product with a novel composition, developed and patented by Eyestem Research. The product can help replace the damaged or lost retinal pigment epithelial (RPE) cells and potentially enable tissue regeneration in the diseased retina. This unique formulation is allogeneic, scalable, and can be stored as a frozen vial for long periods of time.
About Geographic Atrophy
Dry AMD is the leading cause of blindness for people over 50. Geographic atrophy (GA) is an advanced form of dry age-related macular degeneration (AMD) that leads to progressive and irreversible loss of central vision, characterized by the death of cells in the macula, the central part of the retina. Approximately 196 million people suffer from dry AMD globally, five million of whom suffer from GA.
About Eyestem Research
Headquartered in Bangalore and Delaware, Eyestem Research is a clinical-stage biotechnology company, which was started by a founding team with several decades of experience in pharmaceutical product development, retinal surgery, and cell biology. It has won significant accolades with the most recent one being named the top innovator in India across all sectors in 2022 by the prestigious The Economic Times newspaper. It is also the recipient of several prestigious grants and awards from the Department of Biotechnology (DBT), Government of India, and has been feted at high-profile government events as one of the most successful and innovative biotechnology companies in the country.
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