Breye is addressing retinal diseases in which current late-stage treatments are invasive intravitreal injections and early or moderate non-proliferative diabetic retinopathy has few treatment options. Its €67.5 million Series A is intended to move the oral lead asset danegaptide into a randomized Phase 2 proof-of-concept trial after Phase 1b showed good tolerability and early imaging signals consistent with reduced vascular leakage.