Neurophth raises Series D from state-backed Yangtze River Medical Investment

What's the deal? Neurophth, China's first ophthalmic gene therapy developer, has raised a Series D round, according to a funding database. The round was backed by Yangtze River Medical Investment, a provincial state-owned platform in Hubei.

What's the endgame? Based in the national biopharma park at Wuhan Optics Valley, Neurophth develops gene therapies for inherited eye diseases. It first targeted Leber's hereditary optic neuropathy (LHON), starting basic research in 2008.

Why now? The company completed the world's first gene therapy clinical study for an LHON patient in 2011. Nine patients treated in that trial have now been observed for seven years.

The signal: A provincial state platform anchoring the round reflects how Chinese local governments are steering capital into homegrown biotech, particularly companies with a first-mover claim in a specialised field.

Image credit: National Institutes of Health (NIH)