Region: East Midlands
Programme: Angel CoFund
Exonate aims to introduce a revolutionary, game changing eye drop for the treatment of retinal vascular disease including wet Age-related Macular degeneration and diabetic macular oedema. Current gold standard treatment is monthly VEGF inhibitors intraocular injections. There are a high proportion of non-responders and a significant burden of treatment.
VEGF is a protein that stimulates neovascularisation. In certain ophthalmic diseases, these new blood vessels proliferate and cause problems such as leakage of fluid at the back of the eye. Exonate’s science targets messenger RNA, effectively modifying the instructions so that an isoform of VEGF (165b) is produced that inhibits neovascularisation.
Exonate has expertise in the identification of compounds that are potent, selective and permeate to the back of the eye.
The company is currently undertaking lead optimisation of compounds. This is going well and a clinical candidate will be nominated in Q1 2018. This will then enter a pre-clinical safety and toxicity development programme and enter clinical trials in 2020.
Exonate has raised £2.8 million in equity funding from angels, supported by funding from the Universities of Nottingham and Bristol, and the British Business Bank-sponsored Angel CoFund, It has also received a £4.9 million Wellcome Trust SDDI award.