Australian biotech firm Mirugen secures major funding for cell reprogramming therapy

If successful, researchers will explore the potential of using the treatment to address Stargardt disease, age-related macular degeneration and other retinal pathologies. Image credit: ©Rose Makin – stock.adobe.com

Melbourne-based biotechnology company Mirugen Pty Ltd announced it has secured A$4.5 million (approx. €2.5 million) in a successful seed financing round. The funds will go toward efforts in Mirugen’s cell reprogramming technology. The lead programme is focused on restoring vision to those with retinitis pigmentosa, but the therapy may also be applicable in cases of age-related macular degeneration (AMD) and Stargardt disease.

In a press release, Mirugen explained that its discovery platform leverages Nobel Prize-winning research in reprogramming which unlocks cellular repair mechanisms. By sequencing data, assessing bioinformatics and completing high-throughput screening, Mirugen’s platform aims to identify transcription factors which act as cellular “instructions” for reprogramming. Mirugen is a spin-out from the Centre for Eye Research Australia (CERA) and is founded by associate professor Raymond Wong and professor Keith Martin. CERA, an independent medical research institute, is affiliated with the University of Melbourne and Royal Victorian Eye and Ear Hospital.

Along with the funding news, Mirugen announced that Charlotte Casebourne Stock has been appointed as executive chair and acting CEO. Stock has experience at other biologics firms; notably, she helmed Theolytics (a UK-based biotech company) from inception to clinic in its development of oncolytic virus programmes. While there, Stock led the company in raising more than €25 million. She will oversee immediate development milestones for the company.

“Mirugen has the potential to become the pioneer for in vivo cell (re)programming,” Stock said in the press release. “I am excited to join forces with the co-founders and investors for this next chapter: delivering proof of concept for our core technology; progressing towards IND-enabling studies; and building out a world-class leadership team as the foundations for Mirugen to become a resilient leader in this field.”

Prof Martin, co-founder of Mirugen and medical director, also commented on the funding and staffing announcements. “For the 1.5 million individuals worldwide affected by retinitis pigmentosa, severe depletion of the light-sensing cells in the eye—the photoreceptors—is the cause of progressive visual loss,” he said. “With Mirugen’s lead candidate, we target nascent stem cells in the eye, called Muller glial cells, to replace and regenerate the lost photoreceptors.”

If successful, he added, Prof Martin and his team anticipate the cell reprogramming approach will have potential for the treatment of Stargardt disease, AMD and other retinal pathologies.

Mirugen has raised A$7.1 million to date. The recent A$4.5 million builds on significant non-dilutive funding awards from CUREator, a national biotechnology incubator by Brandon BioCatalyst that supports Australian biomedical research and innovation development. That funding group includes Brandon Capital, Tin Alley Ventures and the University of Melbourne Genesis Pre-Seed Fund. The University of Melbourne Genesis Pre-Seed Fund provides staff, student and alumni founders from the University of Melbourne with pre-seed investment, in partnership with Breakthrough Victoria.

Winnie Gao, PhD, an investment associate at the University of Melbourne Genesis Pre-Seed Fund, said “Ghis co-investment in Mirugen reflects our belief that world-class research moves faster through collaboration. By leveraging both capital and capability, we hope to facilitate the necessary support for Mirugen to scale and deliver its therapies to patients sooner.”

Reference

1. Mirugen Secures A$4.5m to Pioneer Cell (Re)programming, and Welcomes Charlotte Casebourne Stock as Executive Chair. Mirugen. Published August 13, 2025. Accessed August 13, 2025. https://www.mirugen.com/post/mirugen-financing