Opus Genetics Secures $2 Million from RD Fund to Advance AAV Gene Therapy for Retinitis Pigmentosa

RESEARCH TRIANGLE PARK, N.C. – Opus Genetics, Inc. (Nasdaq: IRD), a clinical-stage biopharmaceutical company focused on AAV gene and small molecule therapies for eye disorders, announced today that the Retinal Degeneration Fund (RD Fund), the venture philanthropy arm of the Foundation Fighting Blindness, has committed up to $2 million in non-dilutive funding. This capital is designated to advance Opus’ OPGx-MERTK program, which is developing gene therapies for retinitis pigmentosa caused by mutations in the MERTK gene.

“This strategic funding allows us to accelerate the development of OPGx-MERTK, a promising program targeting a retinal degenerative condition with no approved therapies,” said George Magrath, M.D., CEO, Opus Genetics. “OPGx-MERTK is currently in preclinical development, and this support should enable us to move this asset toward Investigational New Drug (IND) enabling studies. We are thankful to the Foundation Fighting Blindness and the RD Fund for their ongoing partnership as we work to deliver meaningful treatments for patients facing vision-threatening conditions.”

Rusty Kelley, Ph.D., managing director of the RD Fund, stated, “This investment highlights the power of combining venture philanthropy, industry collaboration, and cutting-edge science to deliver significant progress for patients. Our alliance with Opus Genetics leverages the full strength of the Foundation Fighting Blindness community—our donors, mission, and team—alongside the proven expertise of Opus and gene therapy pioneers Drs. Jean Bennett and Tomas Aleman, to accelerate life-changing treatments.”

The RD Fund’s investment reinforces its commitment to supporting high-impact programs for rare diseases and will help accelerate the preclinical studies necessary for regulatory filings for the OPGx-MERTK program, thereby strengthening Opus’ AAV gene therapy pipeline for inherited retinal diseases (IRDs).

With this additional funding, Opus projects its cash on hand will be sufficient to fund operations into the second half of 2026.

About OPGx-MERTK

Mutations in the MERTK gene lead to a rod-cone dystrophy often characterized by early macular atrophy, with retinitis pigmentosa being the most common presentation. Opus is developing OPGx-MERTK as an adeno-associated virus (AAV) vector-based gene therapy for MERTK-associated IRD, a condition affecting approximately 600 individuals in the U.S.