Opus Genetics Receives $2 Million Non-Dilutive Funding for OPGx-MERTK Gene Therapy Program

Opus Genetics has received non-dilutive funding of up to $2 million from the Retinal Degeneration Fund to support the development of its OPGx-MERTK program for retinitis pigmentosa. The funding will enable Opus to advance the program towards Investigational New Drug (IND) enabling studies. This investment reflects the collaboration between venture philanthropy, industry, and cutting-edge science to deliver meaningful progress for patients. With the added funding, Opus believes its cash on hand will now be sufficient to fund operations into the second half of 2026.

Opus Genetics (Nasdaq: IRD) has secured up to $2 million in non-dilutive funding from the Retinal Degeneration Fund (RD Fund) to advance its OPGx-MERTK gene therapy program. The funding will support preclinical development for treating retinitis pigmentosa caused by MERTK gene variants, a condition currently without approved treatments [1].

This strategic partnership between Opus and the RD Fund, the venture philanthropy arm of the Foundation Fighting Blindness, combines industry expertise with philanthropic support to accelerate therapeutic development. The funding will help advance the program toward Investigational New Drug (IND)-enabling studies and extends Opus' operational runway into the second half of 2026 [1].

The OPGx-MERTK program targets retinitis pigmentosa caused by mutations in the MERTK gene, a condition currently lacking approved treatments. The therapy is still in early preclinical stages, with this funding specifically earmarked to help advance toward IND-enabling studies - a critical regulatory milestone before human trials can begin [1].

The non-dilutive nature of this deal is particularly noteworthy as it preserves shareholder value while extending Opus's cash runway into the second half of 2026. For a clinical-stage biotech company, runway extension without equity dilution provides valuable operational flexibility and potentially strengthens their negotiating position for future partnerships [1].

This funding also validates Opus's scientific approach, as the RD Fund - led by industry veterans and supported by the Foundation Fighting Blindness - conducts thorough due diligence before investing. Their backing suggests confidence in both the scientific merit of Opus's gene therapy approach and the company's ability to execute its development plan [1].

The advancement toward IND-enabling studies marks a crucial transition from basic research to translational medicine. These studies will evaluate safety, biodistribution, and preliminary efficacy data required by regulatory agencies before human trials can begin. While still preclinical, the program is making tangible progress toward addressing this devastating condition that progressively robs patients of their vision [1].

The involvement of renowned gene therapy pioneers Drs. Jean Bennett and Tomas Aleman further enhances the program's credibility and potential for success. Dr. Bennett's work was foundational to the development of Luxturna, the first FDA-approved gene therapy for an inherited retinal disease [1].

The MERTK gene encodes a receptor tyrosine kinase critical for photoreceptor outer segment phagocytosis by retinal pigment epithelium cells. When mutated, this leads to accumulation of photoreceptor debris and subsequent photoreceptor cell death. Gene replacement therapy represents a potentially curative approach by introducing functional copies of the MERTK gene [1].

This funding from the RD Fund has significant scientific implications for patients with MERTK-related retinitis pigmentosa. This rare form of inherited retinal disease leads to progressive vision loss and currently has no approved treatments, creating a substantial unmet medical need [1].

References:

[1] https://www.stocktitan.net/news/IRD/opus-genetics-awarded-non-dilutive-funding-from-the-rd-fund-to-79j449hx1rbn.html