Ocunova Inc. is an ophthalmic drug development company spun out of the Penn State College of Medicine. Its lead compound, OCU-001, is described as a rapid-acting, safe-to-use treatment targeting the underlying cause of diabetic Dry Eye Syndrome (DES). The company plans to use newly invested capital to advance development and conduct clinical trials of OCU-001. A joint investment of $500,000 was made by the Life Sciences Greenhouse of Central Pennsylvania and Ben Franklin Technology Partners/CNP to support these efforts. The article highlights the unmet need—up to 50% of patients with diabetes may have DES and more than three million U.S. diabetic patients experience chronic dry eye—and notes there are no treatments approved specifically for diabetic DES. Ocunova was founded by local entrepreneurs based on Penn State research and is positioning OCU-001 as a novel approach compared with temporary over-the-counter drops or existing anti-inflammatory prescriptions that have delayed onset and side effects.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Feb 2018