CamGene Therapeutics, a pioneering biotech company advancing first-in-class RNA-based therapies for hearing loss, today announced the successful closing of its oversubscribed seed funding round.
The round was led by the UK Innovation & Science Seed Fund – UKI2S (managed by Future Planet Capital) and joined by majority investor Eos Advisory as well as Cambridge Enterprise Ventures, Hex Two, LongRiver Investments and Parkwalk Advisors via their University of Cambridge Enterprise Funds. Existing investor o2h Ventures, invested again.
The World Health Organisation predicts that by 2050, nearly 2.5 billion people will have some degree of hearing loss, with more than 700 million requiring interventions. Medical devices are the current standard of care, but they are ineffective for many people. Crucially, there are no treatments available to treat the underlying cellular dysfunction, the root cause of hearing loss.
CamGene is developing RNA-based therapeutics with the potential not only to halt the progression of hearing loss, but also to restore lost function, addressing significant unmet patient need. The treatment will initially be delivered alongside surgery when receiving a cochlear implant, but also in the longer term as a stand-alone therapy for patients that would not be suitable for such a device, such as those experiencing milder forms of age related hearing loss.
CamGene combines world-leading expertise in lipid nanoparticle technology (LNP) and RNA therapeutics from industry leaders Dr Arpan Desai and Dr Paul McKay, with the clinical expertise of pioneering ENT surgeon-scientists Professor Manohar Bance and Dr Matthew Smith, University of Cambridge. CamGene will use the funding to advance its lead program through preclinical development, and further refine its proprietary RNA delivery platform tailored for inner ear applications.
‘‘We are thrilled to have the backing of such a strong syndicate of investors who share our vision to transform the treatment of hearing loss through RNA therapeutics.”
Eos invests in and supports the growth of early stage, globally relevant science & technology businesses, with a focus on improving lives. o2h Ventures, an early investor, has supported CamGene from inception, bringing experience in early-stage life sciences. HexTwo is an investment company that was co-founded by Professor Pieter Cullis, a renowned leader in the LNP space. Notably, this round marks LongRiver’s first investment in the UK, underscoring strong international confidence in the company’s vision and technology. Cambridge Enterprise Ventures, the investment arm of the University of Cambridge, also participated, reflecting the involvement of world class academic expertise from the University of Cambridge within the CamGene team.
“The success of gene therapy for rare forms of hearing loss was a landmark moment for our field. What we are doing at CamGene represents the next evolution—using mRNA technology to target more common types of hearing loss and reach a much broader patient population. This approach builds on the foundation of previous breakthroughs, but takes us into a new era where transformative treatments can become accessible to millions, not just a few.”
Professor Manohar Bance, CSO, CamGene
UKI2S invests in groundbreaking medicines. CamGene’s combination of a validated target and unique multi payload approach is developing a well differentiated therapeutic. The potential to restore lost hearing will be transformative to a large number of patients globally and UKI2S is excited to be backing the work of the CamGene team.
