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April, 02 2025 • Articles

Atsena Therapeutics Announces Oversubscribed $150 Million Series C Financing to Further Advance Ocular Gene Therapy Programs

Financing led by new investor Bain Capital with participation from new investor Wellington Management and all existing investors

Proceeds to support advancement of ATSN-201 through potential approval and launch as well as preclinical programs to treat inherited retinal diseases

Norbert Riedel, PhD, will join Atsena’s Board of Directors

DURHAM, NC, April 2, 2025 – Atsena Therapeutics (“Atsena” or “the Company”), a clinical-stage gene therapy company focused on bringing the life-changing power of genetic medicine to reverse or prevent blindness, today announced the successful close of an oversubscribed $150 million Series C financing. The financing was led by Bain Capital’s Life Sciences team, with participation from an additional new investor, Wellington Management. All the Company’s existing investors also participated in the round, including Lightstone Ventures, Sofinnova Investments, Abingworth, Foundation Fighting Blindness, Hatteras Venture Partners, Osage University Partners, and the Manning Family Foundation.

Proceeds from the financing will be used to advance Atsena’s lead program, ATSN-201, for the treatment of X-linked retinoschisis (XLRS), a genetic condition that is typically diagnosed in childhood and leads to blindness later in life. The proceeds will also support Atsena’s preclinical pipeline of first-in-class therapies and expand the use of Atsena’s novel spreading AAV.SPR capsid.

“Closing our Series C marks a pivotal moment for Atsena as we advance our transformative ocular gene therapies and fuel our next phase of growth, innovation, and clinical progress,” said Patrick Ritschel, Chief Executive Officer of Atsena Therapeutics. “It follows a productive 12 months of key achievements including securing a partner to advance ATSN-101 to a global pivotal trial for Leber Congenital Amaurosis type 1 (LCA1) and initiating Part B of the ATSN-201 LIGHTHOUSE study for XLRS. We’re grateful for the support of our investors and partners who share our vision for the future of leveraging genetic medicine to reverse or prevent blindness.”

To date, Atsena’s clinical portfolio has received multiple designations by the U.S. Food and Drug Administration (FDA). ATSN-101, for the treatment of LCA1, has received Rare Pediatric Disease designation, Orphan Drug Designation, and Regenerative Medicine Advanced Therapy designation. ATSN-201 has been granted Fast Track, Rare Pediatric Disease, and Orphan Drug Designations. Updated data from the ongoing LIGHTHOUSE Phase I/II clinical trial evaluating ATSN-201 is anticipated later this year.

“We believe Atsena has a unique opportunity to deliver meaningful impact for patients with inherited retinal diseases on the basis of novel science and impressive clinical data generated to date,” said Amir Zamani, a Partner at Bain Capital. “We look forward to supporting Patrick and his strong team as they look to unlock the next phase of Atsena’s growth and innovation while thoughtfully advancing potentially groundbreaking therapies toward patients in need.”

In conjunction with the financing, Norbert Riedel, PhD, a seasoned scientist and biopharmaceutical executive, will join Atsena’s Board of Directors.

Wedbush & Co. served as exclusive placement agent to Atsena for the Series C financing, Cooley LLP acted as its legal advisor.

About Atsena Therapeutics

Atsena Therapeutics (“Atsena”) is a clinical-stage gene therapy company developing best-in-class treatments for the reversal or prevention of blindness from inherited retinal diseases. The company’s lead program is evaluating ATSN-201 in an ongoing Phase I/II clinical trial for X-linked retinoschisis (XLRS), a genetic condition that is typically diagnosed in childhood and leads to blindness later in life. ATSN-101, Atsena’s first-in-class, investigational gene therapy for Leber congenital amaurosis type 1 (LCA1) has completed a Phase 1 / 2 trial with positive results (https://doi.org/10.1016/s0140-6736(24)01447-8). Atsena is advancing ATSN-101 toward the initiation of a global pivotal trial as part of its exclusive strategic collaboration with Nippon Shinyaku Co., Ltd. Atsena’s pipeline is powered by novel adeno-associated virus (AAV) technology tailored to overcome the hurdles presented by inherited retinal diseases. Founded by pioneers in ocular gene therapy, Atsena is led by an experienced team dedicated to addressing the needs of patients with vision loss. For more information, please visit https://atsenatx.com/.

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Business Contact:

info@atsenatx.com