GelMEDIX, a biotechnology company developing regenerative therapies to restore vision, has completed a $13 million seed financing round led by Safar Partners, with participation from HTL Biotechnology, Beacon Angels, TiE Boston Angels, Boston Harbor Angels, and other investors. The company will use the proceeds to advance its lead program, GMX-101, a retinal pigment epithelial cell therapy designed to treat late-stage Geographic Atrophy, and to further develop its proprietary injectable hydrogel scaffold platform.
As part of the financing, Michael J. Cima, PhD, David H. Koch Professor of Engineering at the Massachusetts Institute of Technology, and Parinaz Motamedy, MBA, Partner at Safar Partners, have joined the GelMEDIX Board of Directors.
Geographic Atrophy is an advanced form of dry age-related macular degeneration that leads to progressive and irreversible central vision loss. GelMEDIX is targeting this condition with GMX-101, which is engineered to replace damaged retinal pigment epithelial cells in the retina. The therapy involves injecting a liquid hydrogel containing healthy induced pluripotent stem cell-derived RPE cells into the subretinal space, followed by light activation to form a scaffold that mimics the natural retinal environment. The scaffold is designed to protect transplanted cells during injection, enhance survival and integration, and degrade over time as new tissue forms.
In multiple preclinical studies, GMX-101 demonstrated the potential to improve cell survival and engraftment, preserve vision, and mitigate safety risks associated with other RPE cell therapies.
Alongside the financing, GelMEDIX announced its first strategic collaboration with a global pharmaceutical company. Under the agreement, GelMEDIX will provide its hydrogel scaffold technology to be used in combination with the partner’s cell lines to develop stem cell-derived therapies. Financial terms of the collaboration were not disclosed.
GelMEDIX’s platform is based on chemically modified natural polymers that form a hydrogel scaffold mimicking human tissue properties. The material is injected in liquid form and activated with light to create a solid, biocompatible, and biodegradable structure at the target site. The scaffold is designed to localize therapeutic cells, support adhesion and growth, and enhance the delivery and safety of cell and gene therapies.
The company was co-founded by Reza Dana, MD, MPH, MSc, Claes H. Dohlman Professor of Ophthalmology at Harvard Medical School and Director of the Laboratory of Immunology, Transplantation and Regeneration at Massachusetts Eye and Ear, and Nasim Annabi, PhD, Associate Professor at the UCLA Samueli School of Engineering. GelMEDIX is headquartered in the Kendall Square district of Cambridge, Massachusetts.
Safar Partners, founded in 2018, is a seed- to growth-stage investment platform focused primarily on technology companies originating from MIT and Harvard. The firm has invested in more than 80 portfolio companies and manages over $1 billion in assets.
KEY QUOTES
“We are deeply grateful to our investors for recognizing the transformative potential of GelMEDIX’s regenerative therapy approach, and we’re thrilled to welcome our first strategic partner, further validating our breakthrough technology. Geographic Atrophy is a leading cause of irreversible blindness in adults over the age of 60, with no treatments available that can restore vision. While RPE therapies have shown promise, they often provide only moderate vision improvement in a subset of patients and present fundamental limitations that reduce efficacy, including poor cell survival and poor integration of transplanted cells, as well as increased safety risks that can lead to further vision loss. With the support of our investors and partners, GelMEDIX is positioned to innovate vision-restoring therapies that overcome these barriers.”
Max Cotler, PhD, CEO of GelMEDIX
“We are excited to have been part of GelMEDIX’s mission from the start. GelMEDIX’s groundbreaking technology platform and approach to treating late-stage Geographic Atrophy sets it apart from other cell therapy approaches, and the impressive results from preclinical studies highlight the significant promise the company’s approach holds. We’re impressed by GelMEDIX’s scientific depth and leadership, and we’re confident it has the potential to restore vision and redefine the future for patients with GA.”
Parinaz Motamedy, MBA, Partner at Safar Partners
