The RD Fund Announces Ocuphire Pharma's Acquisition of Opus Genetics
The RD Fund announces the acquisition of Opus Genetics by Ocuphire Pharma (Nasdaq: OCUP) in an all-stock transaction. The combined company will operate as Opus Genetics under the new Nasdaq ticker symbol 'IRD', focusing on gene therapies for inherited retinal diseases (IRDs). Opus, launched by RD Fund in 2021, has shown promising results with its OPGx-LCA5 Phase 1/2 trial, demonstrating safety and visual improvement in early onset retinal degeneration at 6-month data. This acquisition marks the first RD Fund portfolio company to enter public markets, validating their venture philanthropy model.
Il RD Fund annuncia l'acquisizione di Opus Genetics da parte di Ocuphire Pharma (Nasdaq: OCUP) tramite una transazione interamente azionaria. La società risultante opererà come Opus Genetics sotto il nuovo simbolo Nasdaq 'IRD', con un focus sulle terapie geniche per le malattie retiniche ereditarie (IRD). Opus, lanciata dal RD Fund nel 2021, ha mostrato risultati promettenti con il suo trial di Fase 1/2 OPGx-LCA5, dimostrando sicurezza e miglioramento visivo nella degenerazione retinica precoce nei dati a 6 mesi. Questa acquisizione segna la prima compagnia del portafoglio del RD Fund a entrare nei mercati pubblici, convalidando il loro modello di filantropia imprenditoriale.
El RD Fund anuncia la adquisición de Opus Genetics por parte de Ocuphire Pharma (Nasdaq: OCUP) en una transacción completamente en acciones. La empresa combinada operará como Opus Genetics bajo el nuevo símbolo de Nasdaq 'IRD', enfocándose en terapias génicas para enfermedades retinianas hereditarias (IRD). Opus, lanzada por RD Fund en 2021, ha mostrado resultados prometedores con su ensayo de Fase 1/2 OPGx-LCA5, demostrando seguridad y mejora visual en la degeneración retiniana de inicio temprano en los datos de 6 meses. Esta adquisición marca la primera compañía del portafolio del RD Fund en entrar en los mercados públicos, validando su modelo de filantropía empresarial.
RD 펀드는 Ocuphire Pharma (Nasdaq: OCUP)에 의한 Opus Genetics의 인수를 발표합니다. 이번 거래는 전량 주식 거래로 이루어졌습니다. 합병된 회사는 'IRD'라는 새로운 Nasdaq 티커 심볼을 가지고 Opus Genetics로 운영되며, 유전성 망막 질환(IRDs)을 위한 유전자 치료에 집중합니다. RD Fund에 의해 2021년에 설립된 Opus는 6개월 데이터에서 조기 발병 망막 퇴화에 대한 안전성과 시각 개선을 보여주는 OPGx-LCA5 1상/2상 시험에서 유망한 결과를 보였습니다. 이번 인수는 RD 펀드 포트폴리오 회사가 공공 시장에 진입한 첫 번째 사례로, 그들의 벤처 자선 모델을 검증하는 의미가 있습니다.
Le RD Fund annonce l'acquisition de Opus Genetics par Ocuphire Pharma (Nasdaq: OCUP) dans le cadre d'une transaction entièrement en actions. L'entreprise combinée fonctionnera sous le nouveau symbole Nasdaq 'IRD' en tant que Opus Genetics, se concentrant sur les thérapies géniques pour les maladies rétiniennes héréditaires (IRD). Opus, lancée par le RD Fund en 2021, a montré des résultats prometteurs avec son essai de phase 1/2 OPGx-LCA5, démontrant sécurité et amélioration visuelle dans la dégénérescence rétinienne précoce sur les données à 6 mois. Cette acquisition marque la première société du portefeuille du RD Fund à entrer sur les marchés publics, validant leur modèle de philanthropie entrepreneuriale.
Der RD Fund kündigt die Übernahme von Opus Genetics durch Ocuphire Pharma (Nasdaq: OCUP) in einer Transaktion, die vollständig in Aktien erfolgt, an. Das kombinierte Unternehmen wird unter dem neuen Nasdaq-Tickersymbol 'IRD' als Opus Genetics operieren und sich auf Gentherapien für erbliche Netzhauterkrankungen (IRDs) konzentrieren. Opus, das 2021 vom RD Fund ins Leben gerufen wurde, hat vielversprechende Ergebnisse mit seiner OPGx-LCA5-Phase-1/2-Studie gezeigt, die Sicherheit und visuelle Verbesserung bei früh einsetzender Netzhautdegeneration in den 6-Monats-Daten demonstriert. Diese Übernahme markiert das erste Unternehmen im Portfolio des RD Fund, das an die öffentlichen Märkte geht, und validiert ihr Modell der unternehmerischen Philanthropie.
- Successful Phase 1/2 trial results for OPGx-LCA5 showing safety and visual improvement
- Strategic access to public markets through Nasdaq listing
- Validation of venture philanthropy model making assets more attractive to investors
- Company faced significant biotech downturn during development phase
Insights
This merger represents a significant strategic shift in the inherited retinal disease (IRD) space. The combination of Ocuphire's public market presence with Opus's gene therapy pipeline creates a focused entity in the IRD market. The deal structure as an all-stock transaction and subsequent rebranding to Opus Genetics with a new ticker (IRD) signals a complete strategic pivot for Ocuphire.
Key value drivers include:
- OPGx-LCA5's Phase 1/2 trial showing early positive safety and efficacy data
- Access to public markets for the combined entity
- Retention of experienced leadership team with deep ophthalmology expertise
The merger strategically positions the combined entity in the growing inherited retinal disease market. The early clinical success of OPGx-LCA5 provides important validation of the platform, while the experienced management team increases execution confidence. The transaction structure preserves capital while providing Opus access to public markets, critical for funding future clinical development.
The retention of key scientific founders and executives, including Jean Bennett and Ben Yerxa, provides valuable continuity. Their expertise in ophthalmic drug development will be important for advancing the broader pipeline. This deal represents a significant consolidation in the specialized IRD treatment space, potentially accelerating the development of genetic medicines for these rare conditions.
The resulting company will operate under the name Opus Genetics and the Nasdaq ticker symbol (IRD)
The RD Fund launched Opus in the fall of 2021 to develop gene therapies for the treatment of inherited retinal diseases (IRDs). The RD Fund led the seed financing for Opus as the first internally conceived spinout of the Fund to further the Foundation's mission. With the full support of the Foundation's and Fund's Board of Directors, the company was co-founded and initially managed by Ben Yerxa, PhD, Rusty Kelley, PhD, Peter Ginsberg, and Jason Menzo along with its scientific founders, Jean Bennett, MD, PhD and Junwei Sun from the University of
"The initial seed funding allowed Opus to build a pipeline of early-stage preclinical assets, including advancing OPGx-LCA5 into a Phase 1/2 trial where 6-month data demonstrated safety and visual improvement in early onset retinal degeneration," said Rusty Kelley, managing director of the RD fund and a founding director of the company. "We thank our major donors, including those that enabled project-based funding from the Foundation Fighting Blindness, for helping us advance Opus's pipeline while weathering a significant biotech downturn," added Jason Menzo, Opus co-founder and CEO of the Foundation Fighting Blindness.
The acquisition of Opus by Ocuphire is a key milestone as it represents the first RD Fund portfolio company to enter the public markets. The milestone further validates the venture philanthropy model of derisking assets - making them more attractive to institutional investors and the public markets. "That a highly skilled and experienced team - including former Opus executives and directors Ben Yerxa, Jean Bennett, and Adrienne Graves - will advance the Opus portfolio with a commitment to being a leader in developing genetic medicines for the treatment of IRDs accelerated our approval of the transaction," said Kelley.
About the RD Fund
The RD Fund (Retinal Degeneration Fund), the venture investment arm of the Foundation Fighting Blindness, has a dual mission: accelerate the approval of therapies for retinal diseases and provide alternative revenue sources to further the Foundation's mission. Established in 2018, the RD Fund prioritizes investments in companies around the globe developing therapies that are close to clinical testing. For more information, visit RDFund.org.
About the Foundation Fighting Blindness
Established in 1971, the Foundation Fighting Blindness is the world's leading private funding source for retinal degenerative disease research. The Foundation has raised more than
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CAdams@FightingBlindness.org
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FAQ
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