Opus Genetics Raises $155M Financing, Extends Cash Runway into 2029
Opus Genetics secured $155 million in non-dilutive financing, including a $35 million upfront tranche and a $5 million equity investment, bringing total resources to approximately $140 million. This funding extends its runway into 2029 for pivotal OPGx-LCA5 and OPGx-BEST1 studies and supports three programs entering clinical trials.
1. Financing Agreement and Terms
Opus Genetics entered into a strategic note purchase agreement with Oberland Capital for up to $155 million in non-dilutive funding. The facility includes a $35 million initial tranche at closing, two additional $35 million tranches tied to milestones, $50 million by mutual agreement and a $5 million equity investment at $4.48 per share.
2. Cash Runway Extension and Use of Proceeds
Combined with existing cash of approximately $100 million, the new financing extends Opus Genetics' cash runway into 2029. Funds will support completion of pivotal OPGx-LCA5 and OPGx-BEST1 studies, pre-launch activities and potential priority review voucher attainment.
3. Upcoming Clinical Milestones
Topline data from full Cohort 1 of the Phase 1/2 OPGx-BEST1 trial remain on track for mid-2026. Additionally, three earlier-stage programs are slated to enter clinical testing: OPGx-RDH12 in Q4 2026, OPGx-MERTK by end-2026 and OPGx-RHO in 2027.
4. Strategic Growth and Outlook
This financing underscores Opus Genetics' focus on advancing its gene therapy platform for inherited retinal diseases. The company plans program updates later in 2026 and aims to leverage its noncore phentolamine asset while progressing toward potential regulatory approvals.