On September 22, 2021, the Retinal Degeneration Fund (RD Fund), the venture arm of the Foundation Fighting Blindness aimed at rapidly driving research toward preventions, treatments, and cures for the entire spectrum of retinal degenerative diseases, announced the launch of Opus Genetics, a patient-focused gene therapy company efficiently developing therapies for orphan inherited retinal diseases. The $19 million in seed financing was led by the RD Fund with participation from the Manning Family Foundation and Bios Partners. Wilson Sonsini Goodrich & Rosati advised Opus Genetics on patent matters related to the seed funding.

This is the first spin-out company internally conceived and launched by the RD Fund to further the Foundation’s mission. The initial seed funding will allow Opus to advance the preclinical research of its scientific founders. The company’s lead programs are licensed from the University of Pennsylvania and will focus on treatments to address mutations in genes that cause different forms of Leber congenital amaurosis (LCA). Opus’s lead program, OPGx-001, is designed to address mutations in the LCA5 gene, which encodes the lebercilin protein.

The company’s second program, OPGx-002, will focus on restoring protein expression and halting functional deterioration in patients with retinal dystrophy caused by mutations in the retinal dehydrogenase (RDH12) gene (LCA13), which affects one in 288,000 people. Opus expects to file an IND for its OPGx-001 program in early 2022, and enter the clinic in mid-2022.

The Wilson Sonsini patent and innovations team that advised Opus Genetics on patent matters related to the transaction included Mike Hostetler.

For more information, see Opus Genetics’ press release.