Denmark’s Breye Therapeutics has closed an oversubscribed €67.5 million Series A round to advance danegaptide, its oral treatment for diabetic retinopathy, towards a Phase 2 trial. The round was co-led by Mission BioCapital and Novo Holdings, with participation from Sound Bioventures and several new investors, according to the company’s announcement.
What the company does
Breye Therapeutics develops oral medicines for eye diseases that are currently treated mostly with injections directly into the eye. Its lead programme, danegaptide, is designed to protect the blood vessels in the retina from damage caused by long-term high blood sugar, the underlying cause of diabetic retinopathy. The company says this condition affects about 130 million people worldwide and is a leading cause of vision loss among working-age adults.
Founded in 2019 by chief executive Ulrik Mouritzen, the company emerged from stealth in 2022 after closing a €4 million seed round. Beyond diabetic retinopathy, Breye is also developing oral candidates for intermediate age-related macular degeneration and glaucoma. The goal is to offer patients tablet-based alternatives to eye injections.
The round
Breye raised €67.5 million in an oversubscribed Series A round, according to the company’s announcement. The round was co-led by new investor Mission BioCapital and existing investor Novo Holdings, with participation from existing backer Sound Bioventures and new investors including the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures and Pappas Capital. Robert Blazej of Mission BioCapital and Lukas Ljungström of the Ljungström family office are joining Breye’s board as part of the financing.
Ulrik Mouritzen, chief executive of Breye Therapeutics, said: “This €67.5 million Series A financing, which includes significant support from both new and existing investors, reflects the strong confidence in Breye’s vision, strategy, and pipeline. It marks a major milestone for the Company and validates the enormous progress we have made to date. Importantly, it enables us to advance danegaptide, our pioneering, first-in-class oral treatment for diabetic retinopathy, to the next stage of clinical development, bringing a much-needed patient-friendly treatment option closer to those living with this debilitating eye disease.”
The company plans to use the capital to advance danegaptide into a randomised Phase 2 clinical trial in patients with non-proliferative diabetic retinopathy, due to start in 2027, and to support earlier-stage work on other oral candidates for eye disease.
Frequently asked questions
What does Breye Therapeutics do?
Breye Therapeutics is a Danish clinical-stage company developing oral medicines for retinal diseases. Its lead candidate, danegaptide, is an oral treatment for diabetic retinopathy, a condition usually treated with eye injections.
Who invested in Breye Therapeutics?
The €67.5 million Series A round was co-led by Mission BioCapital and Novo Holdings, with participation from Sound Bioventures, the Ljungström family office, Innovestor Life Science, EIFO, Catalyze Capital, Modi Ventures and Pappas Capital.
What will Breye Therapeutics use the funding for?
The company plans to advance danegaptide into a randomised Phase 2 trial in patients with non-proliferative diabetic retinopathy, due to start in 2027, and to support its broader pipeline of oral eye disease candidates.
