By Fineline Cube China-based ophthalmic biotech Eluminex Biosciences (Suzhou) Ltd has announced the closure of a Series B financing round, raising over USD 40 million. The funds will be directed towards clinical studies in biosynthetic cornea and the development of several innovative ophthalmic drugs. The financing round was led by Cenova Ventures, with contributions from Yuexiu Fund, 3E Bioventures, and Oriza Holdings.
Company Overview and Global Presence
Founded in 2020, Eluminex Biosciences has established a global clinical and regulatory filing center in the San Francisco Bay Area. This strategic location facilitates the company’s ability to navigate international regulatory environments and accelerate the development and commercialization of its products.
Strategic Partnerships and Asset Acquisitions
In July 2021, Eluminex Biosciences entered into a licensing deal with US firm FibroGen Inc., securing exclusive global development and commercialization rights to EB-301, a biosynthetic cornea already at the clinical stage targeting corneal blindness. Additionally, in January of the previous year, Eluminex acquired the assets and global development and commercialization rights to a novel oral therapy for childhood blindness from US-based Retinagenix Holdings LLC. These strategic moves have significantly expanded Eluminex’s pipeline and positioned the company as a leader in ophthalmic therapeutics.
Strategic Implications
The successful Series B financing round underscores the confidence of investors in Eluminex Biosciences’ vision and capabilities. The funds will enable the company to advance its biosynthetic cornea and innovative ophthalmic drugs through clinical studies, bringing these potentially life-changing therapies closer to market. This development is expected to enhance Eluminex’s global market presence and contribute to the treatment of various ophthalmic conditions, including corneal blindness and childhood blindness.-Fineline Info & Tech