The RD Fund Announces Ocuphire Pharma's Acquisition of Opus Genetics

Core Insights - The RD Fund has announced the all-stock acquisition of Opus Genetics, Inc. by Ocuphire Pharma, creating a new entity named Opus Genetics focused on gene therapies for inherited retinal diseases (IRDs) [1][3] - The combined company will trade on Nasdaq under the ticker symbol "IRD" [1] - This acquisition marks the first RD Fund portfolio company to enter public markets, validating the venture philanthropy model [3] Company Overview - Opus Genetics was launched in 2021 by the RD Fund to develop gene therapies for IRDs, with initial seed financing from the RD Fund [1][2] - The RD Fund aims to accelerate the approval of therapies for retinal diseases and provide alternative revenue sources for the Foundation Fighting Blindness [4] Financial and Development Highlights - Opus has developed a pipeline of early-stage preclinical assets, including advancing OPGx-LCA5 into a Phase 1/2 trial, which showed safety and visual improvement in early onset retinal degeneration [2] - The RD Fund has raised over $915 million to support research for preventing and treating retinal degenerative diseases [5]