U-M's retinal disease drug developer has secured $46.9m of series B capital from investors including Mints.

ONL Therapeutics, a US-based retinal diseases therapy developer spun out of University of Michigan, has closed a $46.9m series B round featuring the institution’s Michigan Investment in New Technology Startups (Mints) programme.

Western Michigan University’s Biosciences Research & Commercialization Center also took part in the round.

The round was led by venture capital firm Bios Partners and included Johnson & Johnson Innovation – JJDC, the investment arm of medical products group Johnson & Johnso, Kaitai Capital, PSQ Capital, Michigan Capital…

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