Character Biosciences developed its main assets using results from an ongoing observational study of patients with age-related macular degeneration. \n A New Jersey-based biotech is looking to become the main character in the age-related macular degeneration field. Character Biosciences has landed a $93 million series B to progress its precision medicine candidates through clinical development.The round was led by new investors aMoon and Luma Group, along with Bausch + Lomb, Jefferson Life Sciences and existing investors.The proceeds will fund phase 1 and phase 2 trials for Character\'s lead AMD assets, CTX203 and CTX114, and expand its pipeline into other eye diseases, the company said in a March 25 release.“Millions of patients suffering from degenerative eye diseases lack effective treatments that delay disease progression,” Cheng Zhang, Character’s co-founder and CEO, said in the release. “This funding allows us to advance our lead programs into first-in-human trials, with the goal of bringing new therapies to patients who urgently need them.”Character plans for its two protagonist assets to enter the clinic in 2026. The company also has another undisclosed early-stage program in AMD, as well as one pursuing primary open-angle glaucoma, according to its website. CTX203 is designed to be a first-in-class lipid regulator that prevents AMD from progressing to advanced disease, according to the release, while Character hopes for CTX114 to be a best-in-class complement inhibitor that slows the progression of geographic atrophy in advanced dry AMD.Both assets were developed using Character’s precision approach. Working with more than 150 ophthalmology treatment centers across the U.S., the biotech is conducting an observational AMD study that combines genetics, imaging and patient outcomes to identify subtypes of the notoriously complex disease and design targeted therapeutics for them. This approach led to the development of CTX203 and CTX114, Character said. That project hit a milestone of 5,000 patients enrolled in December 2024.“By identifying the genetic modifiers” of disease progression, Zhang said, “we can develop therapeutics to more precisely target the root causes of disease and improve clinical translation.”AMD is the most common cause of severe vision loss in patients 50 or older. Most patients have dry AMD, which occurs when a part of the retina called the macula breaks down over time. Dry AMD can then progress to the more serious wet AMD if blood vessels in the eye burst and leak fluid into the macula.Character was founded as Clover Therapeutics in 2019, announcing its rebrand to Character Biosciences (PDF) alongside an $18 million fundraising round in May 2022. The firm struck a deal in 2024 to develop AMD treatments with Bausch + Lomb, with the potential for work to expand into other eye disease, Character announced in a Jan. 10 release.Competition has been ramping up in the ophthalmology space as Regeneron’s dominant force Eylea (aflibercept) is set to lose exclusivity in the U.S. this year. The blockbuster injectable, which is approved for a suite of eye diseases including wet AMD, netted Regeneron $5.97 billion in 2024 together with its newer high-dose version Eylea HD, which doesn’t lose exclusivity until 2039.Eylea recently topped a competitor from Australian biotech Opthea in a phase 3 wet AMD trial, leaving that firm to weigh its future options.