Venture Capital

Perceive Bio Raises $78 Million Series B

SOUTH SAN FRANCISCO — Perceive Biotherapeutics, a biotech company pioneering novel technologies and therapeutics in ophthalmology, has closed a $78 million Series B funding round led by Johnson & Johnson Innovation – JJDC, Inc.(JJDC), joining existing Series A investor Deerfield Management and new investors  Braidwell LP, the Retinal Degeneration Fund, and Catalio Capital Management, LP.

Perceive Biotherapeutics is focused on the discovery and development of transformative gene therapies and other therapeutics for ocular diseases with high unmet need. By leveraging deep genetic understandings, Perceive Bio researchers have elucidated key protective biological targets. These targets uniquely position the Company to accelerate the development of best-in-class therapies for programs that address over 50% of currently untreatable retinal blindness. Perceive Bio is advancing therapeutic programs in geographic atrophy / age-related macular degeneration, glaucoma, and additional undisclosed disease areas.

“We are pleased to have the strong support of this syndicate to build on the company’s success to date and provide the resources for Perceive Bio to meaningfully advance its pipeline to key inflection points,” said Cameron Wheeler, Partner, Deerfield Management. “Perceive Bio has a unique understanding of the key targets that protect retinal cells. This understanding supports a deep pipeline of differentiated assets with the potential to prevent blindness in millions of patients for whom effective therapies are not yet available.”

“Each member of our team has contributed deeply to advancing the science of retinal blindness and has contributed to bringing forward the programs into development and clinical trials.  This fundraising not only provides capital but allows us to welcome additional expertise to Perceive Bio, joining our original partner Deerfield who supported the critical early stages of our development,” said K. Angela Macfarlane, CEO of Perceive Biotherapeutics.