Breye Therapeutics raised €67.5 million (about $75.6 million) in a Series A to push danegaptide, an oral small molecule candidate for non-proliferative diabetic retinopathy (NPDR). The company said the funding will support clinical progression toward later-stage trials, with a Phase II study planned to establish clinical proof-of-concept in NPDR beginning in 2027. Danegaptide is designed to stabilize the retinal vasculature and aim to reduce capillary breakdown and vascular leakage driven by chronic hyperglycemia. Breye’s stated mechanism focuses on stabilizing cell-cell couplings via Cx43 and moderating VEGF signaling. The round was co-led by Mission BioCapital and Novo Holdings, with additional participation from Sound Bioventures and new investors including EIFO and Innovestor Life Science. Breye plans to expand its retinal pipeline beyond NPDR to include additional candidates for intermediate age-related macular degeneration and glaucoma, moving them toward IND-enabling work.