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Character Biosciences Raises $93 Million Series B to Advance Precision Medicine for Progressive Eye Diseases

Character Biosciences Raises $93 Million Series B to Advance Precision Medicine for Progressive Eye Diseases

April 2, 2025 Craig Etkin

– Funding will enable lead candidates CTX114 and CTX203 for AMD to enter clinical trialsin thenext year

JERSEY CITY, N.J.–(BUSINESS WIRE)–Character Biosciences, a precision medicine company transforming drug development for polygenic diseases, announced today an oversubscribed $93 million Series B financing round to accelerate the advancement of its pipeline of precision therapies to treat degenerative eye diseases, starting with age-related macular degeneration (AMD). The funding was co-led by new investors aMoon and Luma Group, with additional participation from Bausch + Lomb and Jefferson Life Sciences, alongside existing investors Innovation Endeavors, Catalio Capital Management, S32, and KdT Ventures.

AMD affects one in eight people over 50 and is the leading cause of blindness for older adults worldwide. Despite its complexity, AMD has long been treated as a uniform disease, contributing to high failure rates in drug development. To apply a precision medicine approach to this disease, Character Bio has partnered with over 150 ophthalmology treatment centers across the US to conduct an AMD-focused observational trial, integrating genetics with longitudinal clinical and imaging data for over 6,500 consented patients. This proprietary resource enables the company to reclassify AMD into genetically-defined subtypes, discover and prioritize therapeutic targets, and optimize patient selection for clinical trials.

This data-driven approach has led to the discovery and advancement of its lead candidates, CTX203 and CTX114, which target key drivers of retinal cell death and vision loss. CTX114, a best-in-class complement inhibitor, is designed to slow the progression of geographic atrophy in advanced dry AMD, while CTX203, a first-in-class lipid regulator, aims to prevent progression to advanced AMD. Both programs are expected to enter clinical trials in the next year. The company is also leveraging its AI-driven, genomics-based platform to expand its pipeline into additional ophthalmic diseases.

“Millions of patients suffering from degenerative eye diseases lack effective treatments that delay disease progression,” said Cheng Zhang, CEO & Co-Founder, Character Biosciences. “By identifying the genetic modifiers of their disease progression, we can develop therapeutics to more precisely target the root causes of disease and improve clinical translation. This funding allows us to advance our lead programs into first-in-human trials, with the goal of bringing new therapies to patients who urgently need them.”

“The next frontier of precision medicine lies at the convergence of genomics, deep phenotyping, and AI applied to complex polygenic disorders,” said Reut Shema, PhD Partner, aMoon. “The Character Bio team is driving innovation forward by uniquely assembling historically siloed disciplines, spanning patient advocacy and provider partnerships, data integration and machine learning, statistical genetics and computational biology, as well as drug discovery and clinical development. We are proud to back this team’s mission to cure age-related blindness.”

“Character is leveraging its multi-omics approach to move beyond the traditional one-size-fits-all approach to deliver first- and best-in-class therapies tailored to specific disease subtypes,” said Jamie Kasuboski, PhD, Partner, Luma Group. “Character’s patient-first approach is unique in its ability to identify those who are most likely to benefit from therapy, and we look forward to seeing the clinical impact of this approach with the use of proceeds from this financing.”

The Series B funding will support Phase 1 and Phase 2 proof-of-concept studies for CTX203 and CTX114, as well as the expansion of Character Bio’s pipeline into additional ophthalmic diseases. In January 2025, Character Bio announced a collaboration with Bausch + Lomb, which includes an upfront payment, with potential downstream development and sales-based milestones and royalties for novel therapeutics targeting AMD.

About Character Biosciences

Character Biosciences is a precision medicine company developing targeted therapies for progressive polygenic diseases, starting with ophthalmology. By integrating genomics, deep clinical data, and AI-driven modeling, Character Bio identifies disease drivers to improve the success rate of drug development. The company is advancing a pipeline focused on dry age-related macular degeneration (AMD) and primary open-angle glaucoma (POAG) to address significant unmet medical needs. For more information, visit www.characterbio.com.

Contacts

Media Contact
Kimberly Ha
KKH Advisors
917-291-5744
kimberly.ha@kkhadvisors.com

(c)2025 Business Wire, Inc., All rights reserved.


Venture Capital
Business Wire, Character Biosciences, Jersey City, New Jersey, Venture Capital

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Joby Aviation, a company developing electric air taxis for commercial passenger service, announced the successful closing of the first $250 million tranche of a previously announced strategic investment from Toyota Motor Corporation. The funding marks a significant milestone in strengthening the long-term collaboration between the two companies and supports their shared vision for the future of air mobility. The investment is aimed at supporting certification and commercial production of Joby’s electric air taxi. This underscores the mutual commitment to deepening integration and delivering next generation travel to global markets. This investment also puts the two companies a step closer toward a strategic manufacturing alliance.

In a statement JoeBen Bevirt, founder and CEO of Joby said, “We’re already seeing the benefit of working with Toyota in streamlining manufacturing processes and optimizing design.” “This is an important next step in our alliance with Toyota to scale the promise of electric flight. With this capital and Toyota’s legendary production expertise, we’re enhancing our ability to scale cutting-edge design and manufacturing to meet the demands of our partners and customers.”

Joby Aviation is a California-based transportation company developing an all-electric, vertical take-off and landing air taxi which it intends to operate as part of a fast, quiet, and convenient service in cities around the world. Powered by six electric motors, their aircraft takes off and lands vertically, giving it the flexibility to serve almost any community. Flying with Joby might feel more like getting into an SUV than boarding a plane. The company's aerial ridesharing service will combine the ease of conventional ridesharing with the power of flight. A green alternative to driving that's bookable at the touch of an app. With more than 30,000 miles flown on full-scale prototype aircraft, their aircraft is designed to meet the uncompromising safety standards set by the FAA and other global aviation regulators. Joby Aviation is now engaged in a multi-year testing program with the FAA to certify their vehicle for commercial operations, and have completed the first three of five stages.
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Infinite Reality, an innovation company powering the next generation of immersive media, AI, and ecommerce, today announced a landmark real estate partnership with renowned real estate investment, development and management firm Sterling Bay to co-develop a 60-acre site in Fort Lauderdale into a next-generation technology and entertainment campus. This ambitious redevelopment—expected to open in 2026—will serve as Infinite Reality’s new global headquarters and is the cornerstone of iR’s long-term real estate strategy, which begins with this flagship project in South Florida. The public-private project marks one of the largest creative economy investments in the area to date, aiming to generate more than 1,000 new jobs with an average salary of six figures and deliver long-term economic growth to the region. Located at 1400 NW 31st Avenue on the site of a remediated former Superfund property, the development features over 100,000 square feet of Class A office space for media, tech, and enterprise clients. Construction is expected to begin in early 2026, pending completion of permitting and design phases.

In a statement John Acunto, co-founder and CEO of Infinite Reality said, “This isn’t just a headquarters—it’s the heart of Infinite Reality’s future. As a proud South Florida resident, this project is deeply personal to me.” “It’s about transforming a community I love into a global hub for immersive technology and creativity. We’re building opportunity, fueling innovation, and laying the foundation for a lasting legacy. Partnering with a world-class development firm like Sterling Bay ensures that this vision is realized at the highest level—and that Fort Lauderdale becomes a defining force in the future of the digital economy.”

In addition to serving as a corporate campus, the site will include flexible spaces for retail, production, digital broadcasting, and entertainment ventures. The development also includes educational initiatives in partnership with local institutions to train and hire future talent in STEM, immersive tech, and creative production. Infinite Reality is an innovation company powering the next generation of digital media and ecommerce through spatial computing, artificial intelligence, and other immersive technologies. Infinite Reality’s suite of cutting-edge software, production, marketing services, and other capabilities empower brands and creators to craft inventive digital experiences that uplevel audience engagement, data ownership, monetization, and brand health metrics.
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Kimberly-Clark Corporation, one of the world's leading manufacturers of personal care and hygiene products, will establish an $800 million advanced manufacturing facility in Trumbull County, bringing an anticipated 491 new high-quality jobs. For Kimberly-Clark, this new facility would be its first in Ohio and represents not just a strategic expansion, but a decisive step in doubling down on growth in the American market. Spread across more than one million square feet, the Warren facility will provide the manufacturing capacity needed to unleash future growth for Kimberly-Clark’s fastest-growing personal care categories that include Baby & Child Care and Adult & Feminine Care. Warren is in geographic proximity to roughly 117 million consumers and will serve as a strategic hub for the Northeast and Midwest regions. Construction is expected to begin this month and will take up to two years.

In a statement Tamera Fenske, chief supply chain officer at Kimberly-Clark said, “Our investment in Warren is a pivotal step forward in our North America business and strategy.” “By establishing a new, state-of-the-art manufacturing facility in Ohio, we’re enhancing our ability to serve millions of consumers across the Midwest and Northeast with greater speed, agility, and resilience. It’s a once-in-a-career opportunity to build a facility from the ground up that reflects the future of manufacturing, and with the support of local partners like JobsOhio, the Department of Development, Lake to River, Western Reserve Port Authority, and local governments, we have the unique opportunity to create high-quality jobs and long-term economic impact in the region.”

Based in Dallas and employing 46,000 people in 34 countries, the company’s portfolio of brands also includes Huggies, Kleenex, Scott, Kotex, Cottonelle, Poise, Depend, Andrex, Pull-Ups, GoodNites, Intimus, Plenitud, Sweety, Softex, Viva and WypAll. Its products are sold in more than 175 countries and territories.
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