Clinical stage biotech engaged in ongoing trials of precision nanomedicine technology in ophthalmology and neuroinflammation.
Nanomedicine company Ashvattha Therapeutics has announced an extension of its Series B financing, securing up to $50 million to advance its clinical-stage hydroxyl dendrimer therapeutics (HDTs) in ophthalmology, neurology and inflammatory conditions. The funding, led by Tribe Capital alongside existing investors including Natural Capital, will enable the company to advance its clinical programs, including a Phase 2 ophthalmology trial and a Phase 1/2 neuroinflammation trial.
Ashvattha is developing precision nanomedicine therapeutics designed to target and reprogram activated cells specifically in inflamed regions, leaving healthy cells untouched. The company’s technology is based on hydroxyl dendrimers, versatile nanostructures believed to have significant potential in targeted drug delivery due to their unique structural properties and targeting abilities.
Ashvattha’s nanomedicines are engineered to traverse key biological barriers, such as the blood-retinal barrier (BRB) and the blood-brain barrier (BBB), enabling precise delivery of therapeutic agents to minimize off-target effects. A key focus for the company is to minimize the need for invasive administration methods, such as intravitreal injections for ocular conditions, by developing systemic therapies that achieve comparable results.
The company is conducting a Phase 2 trial for its ophthalmology-focused nanomedicine, which is designed to address neovascular age-related macular degeneration (wet AMD) and diabetic macular edema (DME). The nanomedicine selectively targets activated microglia, macrophages and retinal pigment epithelial cells within the eye, offering a monthly subcutaneous administration option. Interim trial data announced by the company indicates a reduction in the treatment burden for participants. After receiving an initial intravitreal injection, Ashvattha said that subjects transitioning to its drug demonstrated a reduced need for supplemental intravitreal injections over a 24-week period, along with improvements in visual acuity and sustained reductions in subretinal fluid.
“These interim results validate our novel approach of developing an at-home subcutaneous injection to treats both eyes in patients with bilateral disease from a single administration,” said Ashvattha CEO Dr Jeff Cleland. “Unlike all other clinical stage approaches, we have demonstrated a benefit to patients with bilateral disease with a well-tolerated systemic therapy. Over 40% of wet AMD and over 90% of DME subjects in our trial had bilateral disease that would require both eyes to receive injections of current products or clinical candidates.”
Beyond ophthalmology, Ashvattha is also advancing programs in neurology and inflammation. In neurology, its focus is on developing biomarkers to study the penetration of the BBB and evaluate therapeutic responses. For inflammatory diseases, the company says its technology enables safe modulation of cellular activity in inflamed regions without affecting healthy tissue, avoiding liver metabolism and expelling the therapeutic agents via the kidneys within 24-48 hours.
“We believe Ashvattha is a broad platform for HDTs to target and reprogram activated innate immune cells in the human body,” said Tribe Capital’s Arjun Sethi. “These cells are implicated in inflammation, cancer, heart disease, aging disorders, autoimmune and neurological diseases. Built on over twenty years of work at Johns Hopkins, with four safety studies and three Phase 2a trials under the belt, we believe the platform of over one hundred HDTs has reached a point where we can see its impact on the human population in the next few years.”
