The company’s series B venture capital will fund Phase IIb trials of PDE9 inhibitor CRD-750 in heart failure and a Phase IIa study of CaMKII inhibitor CRD-4730 in a rare arrhythmic disease.

Oculis’s licaminlimab showed ability to treat a sign of dry eye disease in a genetic subpopulation, but data in the fuller Phase IIb trial enrollment were less impressive.

Otsuka has now formally decided to terminate the development of AVP-786 for Alzheimer's agitation, for which it is set to book another JPY100bn loss this year, and marking a major setback for an asset that was a key attraction in a previous large acquisition.

Orna emerged in 2021 with its circular RNA platform and ReNAgade launched in 2023 to deliver RNA to new tissues, both backed by MPM BioImpact, but they have been partners for years.