Arctic Vision Announces Close of $100 Million Series B Financing Round

(VCBeat) Mar. 10, 2021 -- Arctic Vision, a biotechnology company in the clinical stage focused on innovative therapies in ophthalmology, today announced the completion of a Series B funding round of over $100 million. This round was led by Loyal Valley Capital, with participation from Tencent, Octagon Capital and the individual investor Dr. Cheng Zhigang, a famous entrepreneur in Shenzhen New World Group. Existing investors Nan Fung Life Science and Technology, Pivotal bioVenture Partners and Morningside Venture Capital also participated. CEC Capital acted as the exclusive financial advisor for Arctic Vision in the latest round. 

Proceeds from the transaction will be used to support the clinical registration and commercialization of Arctic Vision's pipeline, build up an independent R&D platform, promote new products and expand its team.

Arctic Vision aims to become a leading specialty ophthalmology company in China with a portfolio of breakthrough technologies to lead the Chinese ophthalmic drug market with international exposure.

Arctic Vision's current pipeline includes three products in phase III clinical trial, including ARVN001 (known as XIPERE^TM in the US) for the treatment of macular edema associated with uveitis, ARVN002 for the treatment of progressive myopia in children, and ARVN003 for presbyopia. ARVN001 has obtained IND approval in China at the end of 2020, and its phase III clinical study is expected to begin in 2021. The clinical registration of IND for ARVN002 and ARVN003 is in progress. In addition, Arctic Vision plans to promote a number of new products into clinical trials in 2021 and further expand its scale of R&D, clinical registration, and commercialization.

LVC is a thematic, research-driven private equity firm that invests in middle-market companies positioned to benefit from the secular industry transformation in China. With over US$2 billion of AUM, LVC focuses on four segments: New Consumer, Healthcare, Specialty Industrials, and Financial Services. 

With the financial support of Hong Kong-based Nan Fung Group, Nan Fung Life Science and Technology is a global investment platform in the field of life sciences. Team members have diverse experience in venture capital, growth/M&A investments, and drug discovery.

Pivotal bioVenture Partners is a subsidiary of Nan Fung Group, focusing on global life sciences investment as well. The company is committed to finding innovative products and technologies globally. Pivotal bioVenture Partners has founded and invested in a number of leading biopharmaceutical companies in China to meet the growing medical needs of the domestic market.