Allegro Ophthalmics is a biotechnology company focused on developing novel therapies for vitreoretinal diseases. Its lead investigational drug, Luminate, is a first-in-class integrin peptide therapy that targets integrin receptors and employs two mechanisms of action (vitreolysis and anti-angiogenesis). Luminate has met endpoints in two Phase 2 monotherapy studies for diabetic macular edema (DME) and vitreomacular traction (VMT), and topline results from a Phase 2, Stage 2 DME trial evaluating Luminate in combination with anti-VEGFs are expected soon. The drug has been shown in clinical studies to regress and inhibit new blood-vessel formation and reduce vascular leakage, and it is not approved by the FDA for commercial sale in the U.S. Allegro holds commercial rights to Luminate in all territories outside Japan, Korea and China. The company says recent financing positions it to complete multiple Phase 2 trials and prepare for Phase 3 studies. Allegro Ophthalmics develops Luminate (ALG-1001), a first-in-class Integrin Peptide Therapy currently in multiple Phase 2 studies in the U.S. for vitreo-retinal conditions including diabetic macular edema, wet age-related macular degeneration, and vitreomacular traction. Luminate acts on integrin receptors with dual mechanisms (anti-angiogenesis and vitreolysis) to regress neovascularization and reduce vascular leakage, and has shown promise in clinical studies to date. Allegro positions Luminate to potentially reduce the burden of intravitreal injections and offer an alternative treatment option for patients at risk of vision loss. The company retains commercial rights to Luminate in all territories outside Japan, Korea and China. Allegro highlights more than 100 years of combined team experience in ophthalmic drug discovery, development and manufacturing and is focused on advancing its global clinical program. The announced strategic partnership and investment from Hanmi Pharmaceutical is intended to provide capital to accelerate development and commercialization efforts in Asia and globally.

Total raised

$31M

Funding rounds

2

Latest round

Equity

Latest activity

Jul 2017