The $4.5 million seed funding from a group of investors that includes the University of Melbourne’s Genesis Pre-Seed Fund, Tin Alley Ventures and Brandon Capital, brings Mirugen’s total investment up to $7 million.

Established in 2022 after participating in the federally funded CUREator incubator, Mirugen is developing a breakthrough cell reprogramming therapy designed to regenerate damaged photoreceptors in the retina.

The company was incubated at CERA by Professor Raymond Wong, Head of Cellular Reprogramming, and is using engineered viruses to activate the eye’s own stem cells.

“Cellular reprogramming is a technology which allows you to control genes to determine how cells behave,” Professor Wong says.

“Mirugen’s research is using cutting-edge techniques to identify the optimum set of factors to ask one cell type in the eye to become another.”

The approach is aiming to unlock the regenerative power of the retina’s stem cells to reverse and prevent damage to the light-sensing photoreceptors in the eye.

The initial target for the new therapy will be the inherited retinal disease, retinitis pigmentosa, which affects more than 1.5 million people worldwide.

However, it could also benefit up to 190 million people living with other diseases caused by damage to photoreceptors such as age-related macular degeneration and Stargardt’s disease.

Greater impact

CERA’s Managing Director Professor Keith Martin, who is also a co-founder of Mirugen, says the latest investment will help move the treatment towards the clinic.

“The latest funding round demonstrates the critical role of seed investors in supporting innovation in medical research and strengthening partnerships between industry and academic researchers.” He says partnering with industry was a key part of CERA’s strategy to increase the impact of its research through innovation.

“We want to help our scientists move their research from the lab to the clinic where it can make a real difference for people with eye disease.”

This story was originally published in Creating the future in sight: Annual Review 2025.