LambdaVision Announces First Closing of Seed Round to Advance Artificial Retina Preclinical Studies for Retinal Eye Diseases

FARMINGTON, CT, May 29, 2024 — LambdaVision, an innovative biotech company developing a protein-based artificial retina to help patients regain sight lost to retinal degenerative diseases, announced it secured the first closing of its seed round being led by Aurelia Foundry Fund, a fund spun out of MIT. The round also includes investment from Boryung, a publicly listed Korean pharmaceutical company, and E2MC Ventures. The targeted raise will fund LambdaVision’s GMP manufacturing scale up and critical IND-enabling efficacy and toxicity studies, advancing LambdaVision closer to clinical trials initially targeted for blind patients with advanced retinitis pigmentosa (RP). 

“This support from the Aurelia Foundry Fund and other high-profile investors underscores the potential of our approach toward treating retinal degenerative diseases and further validates our innovative space-based manufacturing approach to benefit those on Earth,” said Nicole Wagner, Ph.D., CEO of LambdaVision. “We are grateful for the support of our new partners and hope to welcome additional institutions or qualified investors to fill the seed round.” 

LambdaVision is developing the first protein-based artificial retina to restore meaningful vision for patients who are blind or have lost significant sight due to RP and age-related macular degeneration (AMD). While the preclinical studies are being conducted on Earth, LambdaVision is optimizing assembly of its artificial retina in low-Earth orbit. Because of the unique behavior of solutions and thin films that make up the layers of the artificial retina, production efficiency and product quality may be improved in microgravity.  

“We are proud to lead this seed round with LambdaVision and eager to support bringing a life-changing product to market,” said Ariel Ekblaw, GP,  Aurelia Foundry Fund. “Funding their paradigm-shifting artificial retina technology aligns with our mission to invest in foundational space tech that can empower humanity and offers the space industry a scalable solution for in-space bio manufacturing that leverages microgravity.” 

The protein-based artificial retina is developed through a layer-by-layer production process alternating layers of the protein, bacteriorhodopsin, and a polymer, supported by a membrane of a synthetic fiber that has long been used by the medical community. By using a protein similar to the visual pigment rhodopsin that is naturally occurring in our eyes, LambdaVision’s patent-protected artificial retina mimics the light-absorbing properties of human photoreceptors. 

Separately, the company has recently received a Notice of Allowance from the United States Patent and Trademark Office (USPTO) for a worldwide patent application, which includes a definition of the production process and functional features of the artificial retina technology.    

“Recognizing the huge unmet need for RP patients for whom there is currently no cure, it is imperative we support the research and development of new technologies like LambdaVision’s artificial retina that will hopefully help patients regain sight,” said Luciano V. Del Priore, MD, PhD, Robert R. Young Professor of Ophthalmology and Visual Science; Chair of Ophthalmology at Yale School of Medicine, and Chief of Ophthalmology, Yale New Haven Hospital.  

LambdaVision has been previously selected as an awardee of the 2023 Humans In Space Challenge, a global space healthcare challenge co-hosted by Aurelia Institute, through which the investment from Boryung was executed. To date, LambdaVision has secured >$17 million in funding and launched 9 missions to the International Space Station. LambdaVision has previously received funds from the National Aeronautics and Space Administration (NASA) including Small Business Innovation Research (SBIR) and commercialization awards, as well as the National Science Foundation (NSF) and the National Institutes of Health (NIH), among others.  

About LambdaVision   

LambdaVision is developing a protein-based artificial retina to restore meaningful vision for the millions of patients blinded by retinal degenerative diseases, including retinitis pigmentosa (RP) and age-related macular degeneration (AMD). The patent-protected artificial retina technology developed by LambdaVision uses photoactive proteins to naturally mimic the light-absorbing properties of human photoreceptor cells and activate neuroreceptors still present in degenerated retinas of blind patients. LambdaVision’s artificial retina is one of the first technologies being evaluated on the International Space Station that has potential for clinical use, and the established microgravity manufacturing processes, quality control methods, and laboratory techniques provide a foundation for future clinical research in space. To learn more, visit lambdavision.com.   

About Aurelia Foundry 

Aurelia Foundry is a deep tech space fund, investing in companies utilizing space for the benefit of life on Earth. As part of the broader Aurelia ecosystem, the fund works closely with the Aurelia Institute, a non-profit space architecture R&D lab, education and outreach center, and policy hub dedicated to building humanity’s future in space. The fund invests in both spin outs of the Institute and external startups building foundational technologies that will empower humanity. 

About Boryung 

Boryung is a healthcare investment company founded in 1957 and headquartered in Seoul, South Korea. Following the company’s mission to become an indispensable contributor to human health, it has expanded their business portfolio to the space healthcare industry. Recognizing space as a new realm for growth, Boryung acknowledges the increasing number of individuals anticipated to embark on prolonged space missions, highlighting the importance of ensuring human survival in the hostile space environment. Hence, the company believes there will be substantial opportunities to foster new technologies and meet emerging needs in this field. 

About E2MC 

E2MC (Earth to Mars Capital) is a U.S.-based venture capital firm acting globally, with over 20 investments already, and dedicated to advancing the space economy by financing early-stage startups and paving the way for humanity’s expansion into space. We partner with visionary founders and leverage our extensive global network and deep industry knowledge in their support. Our motto “From Earth into space, for Earth,” underscores our dedication to harnessing space technology for global advancement and sustainable development, believing that such efforts will inevitably better humanity. 

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LambdaVision to Launch Next Investigation on NASA’s Upcoming SpaceX-24 Flight

FARMINGTON, CT, December 16, 2021 — LambdaVision, an innovative biotech company developing a treatment to help patients regain sight lost to retinal degenerative diseases, along with implementation partner Space Tango, will build on prior research on an upcoming mission to the International Space Station (ISS) via the SpaceX’s 24th commercial resupply service mission (CRS-24) contracted by National Aeronautics and Space Administration (NASA). Liftoff of the Dragon spacecraft carrying the next iteration of LambdaVision research is slated for launch no earlier than Tuesday, Dec. 21, at 5:06 a.m. EST from Launch Complex 39A at NASA’s Kennedy Space Center in Florida.

Beyond the upcoming mission, the Center for the Advancement of Science in Space (CASIS) has recently awarded LambdaVision two separate grants stemming from ISS National Lab Research Announcements (NLRAs) in the categories of advanced manufacturing and materials and tissue engineering and biomanufacturing. This funding will support the expansion of LambdaVision’s biomanufacturing research in low Earth orbit. Contractual agreement between CASIS and LambdaVision is pending based on finalization of legal terms and conditions.

Through the support of these NLRA awards, LambdaVision will expand the number of Space Tango research modules, called CubeLabsTM, used on the ISS, which increases throughput and will lead to an optimized layer-by-layer manufacturing prototype for implementing future production scale. Additionally, LambdaVision will rigorously test the stability of the light-activated protein, bacteriorhodopsin (BR), and the manufactured artificial retinas in microgravity conditions for extended periods. Ensuring quality, efficiency, and durability of the manufacturing methodology will potentially enhance stability and performance for future preclinical and clinical trials and eventual approval of the artificial retina. The company aims to achieve good manufacturing practice (GMP) production of the artificial retina within the next 2 years. LambdaVision’s microgravity-based investigations can uniquely enable technical solutions to known science and engineering challenges and create a pathway for new product development and business opportunities beyond the artificial retina.

“As each flight offers us further knowledge about the benefits of LEO and the properties of our materials, we are grateful for the opportunity to expand our microgravity efforts, both for us and for others that can benefit from the milestones achieved during our research and development,” said Jordan A. Greco, Ph.D., chief scientific officer at LambdaVision. 

LambdaVision and Space Tango have previously received funds from NASA, including Small Business Innovation Research (SBIR) and Commercialization awards, which have led to the proof-of-concept and optimization of the layer-by-layer production approach.

About Space Tango

Space Tango is an industry leader in automated systems in the pursuit of health and technology manufacturing in space. Since 2017 through a NASA Space Act Agreement, Space Tango provides facilities to support iterative R&D and manufacturing in space. Through an integrated and intuitive approach, Space Tango works alongside their diverse partner-base to embrace pathways to on-orbit production yielding valuable and transformational solutions for humanity. Space Tango is headquartered in Lexington, Kentucky with offices in Texas, Florida, California, and Washington, D.C.

About LambdaVision

LambdaVision is developing a protein-based artificial retina to restore meaningful vision for the millions of patients blinded by retinal degenerative diseases, including retinitis pigmentosa (RP) and age-related macular degeneration (AMD). The patent-protected artificial retina technology developed by LambdaVision uses photoactive proteins to naturally mimic the light-absorbing properties of human photoreceptor cells and activate neuroreceptors still present in degenerated retinas of blind patients. Founded as part of the UConn Technology Incubator Program, LambdaVision along with its research partners, have secured over $9 million to date in state and federal funding. To learn more, visit lambdavision.com.

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LambdaVision to Study Light-Activated Proteins on NASA’s Upcoming Flight to International Space Station

LambdaVision Secures Further NASA Funding to Utilize Company’s Advanced Production Processes for Additional Applications

FARMINGTON, Conn., June 1, 2020 — LambdaVision, an innovative biotechnology company developing a novel treatment to help patients regain sight, has been selected by NASA for a Small Business Innovation Research (SBIR) Phase II award, worth $750,000 over two years. With the continued support of NASA, LambdaVision will advance the development of its protein-based artificial retina, and look to explore how its production process in microgravity can be utilized for additional biomedical and technology applications across a number of diverse industries. This award complements a recent $5M NASA Commercialization Award received by LambdaVision and its partner, Space Tango, for continued work on the International Space Station (ISS) to establish pilot-scale production systems for artificial retina and other future biomedical applications. LambdaVision believes these awards serve as further validation of the technology readiness and commercial potential of the advanced production process in microgravity.

“Throughout my 40-year career, I have explored the potential of using light-activated proteins in applications that include information processing, energy production, and visual restoration. My colleagues and I are very grateful to have the support and peer validation from the experts at NASA, and we are eager to use our discoveries to further translate our research into products that benefit mankind,” stated LambdaVision Founder Robert R. Birge, PhD, Harold S. Schwenk Sr. Distinguished Chair Emeritus at the University of Connecticut.

Leveraging the new funding, LambdaVision will continue to refine the production process for the protein-based artificial retina on the ISS U.S. National Laboratory. The award will allow LambdaVision to complete a production prototype with optimized parameters for implementation in microgravity, and will establish quality control and activity measurements that are essential for further preclinical studies. These manufacturing advancements will allow the company to further utilize Dr. Birge’s research as a foundation for additional commercial technologies, including photovoltaic cells, chemical sensors, and optical memories.

“While we remain focused on our mission of restoring sight for patients with retinal diseases, we appreciate the opportunity to explore how our production process could expand our pipeline, and are truly honored to be able to investigate the benefits of microgravity for various industries with this award from NASA,” said Jordan Greco, PhD, chief scientific officer, LambdaVision.

The artificial retina is produced through a patented layer-by-layer production process that ensures the artificial retina is dense enough to absorb appropriate amounts of light. While LambdaVision’s artificial retina has been developed in labs on Earth, producing the artificial retina in low-Earth orbit (LEO) improves the homogeneity of the alternating protein and polymer layers, resulting in increased stability, performance, and optical quality of the multi-layer system. These improvements could reduce the amount of materials required to produce the artificial retina, lower costs, accelerate production time for future preclinical and clinical efforts, and establish parameters for additional technology applications.

LambdaVision’s investigational artificial retina has the potential to restore meaningful vision for patients who are blind or have lost significant sight due to advanced retinitis pigmentosa (RP), and age-related macular degeneration (AMD), the leading cause of blindness for adults over 55 years old.

About SBIR
Aiming to stimulate innovation and inspire entrepreneurial spirit within research and development, the Small Business Innovation Research (SBIR) program is a highly-competitive award program that enables small businesses to explore their technological potential and provides incentive for commercialization. Applications undergo a vigorous peer-review process, which involves both NASA and non-NASA subject matter experts, to assess and validate the technology readiness and commercialization potential.

About LambdaVision
LambdaVision is developing a protein-based artificial retina to restore meaningful vision for the millions of patients blinded by retinal degenerative diseases, including retinitis pigmentosa (RP) and age-related macular degeneration (AMD). The patent-protected artificial retina technology developed by LambdaVision uses photoactive proteins to naturally mimic the light-absorbing properties of human photoreceptor cells and activate neuroreceptors still present in degenerated retinas of blind patients. Founded as part of the UConn Technology Incubator Program, LambdaVision along with its research partners, have secured over $8.0 million to date in state and federal funding. To learn more, visit www.lambdavision.com.

About Space Tango
Space Tango provides improved access to microgravity through their Open Orbit platform for research and commercial manufacturing applications that benefit life on Earth. The Company believes the microgravity environment is a new frontier for discovery and innovation. Space Tango is focused on expanding the global market 250 miles up in low Earth orbit and envisions a future where the next important breakthroughs in both healthcare and technology will occur off the planet. Recognized for their expertise in microgravity design and operations, Space Tango believes that by exploring with industry and academia, we can improve life on Earth and inspire the next generation to continue to expand the horizon of this new frontier. For more information, visit www.spacetango.com.

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Media Contact
Tara DiMilia
908-369-7168
tara.dimilia@tmstrat.com

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