PanOptica is a private biopharmaceutical company focused on developing innovative ophthalmology therapies, chiefly a topical small-molecule anti-VEGF eye drop, PAN-90806. The company intends to advance a next-generation suspension formulation of PAN-90806 into clinical trials to treat neovascular eye diseases such as wet age-related macular degeneration (wet AMD). PanOptica secured $11 million in an additional Series B financing to enable a new Phase 1/2 study of the advanced formulation as monotherapy for up to three months of treatment. The planned study aims to define the optimal dose, regimen, and regulatory path and is targeted to begin early next year. Prior Phase 1/2 data presented at the AAO showed a positive biological response to topical PAN-90806 in approximately 45–50% of treated patients, with systemic safety and reversible local ocular adverse events at higher doses. Non-clinical pharmacokinetic and toxicology studies of the new formulation demonstrated reduced corneal concentrations and a reduced risk of adverse corneal findings while maintaining target tissue distribution to the choroid and retina. PanOptica focuses on licensing and developing ophthalmic therapeutics, with its lead program PAN-90806, a small-molecule selective inhibitor of VEGF signaling formulated as a topical (eye drop) treatment for neovascular AMD. The company has dosed the first patient in a Phase 1, two-month open-label study of approximately 30 patients at 15–20 U.S. clinical sites to assess safety and tolerability at three dose strengths. PAN-90806 showed preclinical retinal and choroidal exposure and suppression of abnormal neovascularization in animal models, supporting clinical investigation. PanOptica recently secured financing to advance clinical development and expects a Phase 1 data readout by the end of 2014. The company was co-founded by Paul Chaney and Martin Wax and began operating in early 2009 with seed financing from SV Life Sciences. Earlier, PanOptica raised up to $30 million in a Series A in early 2011 led by SV Life Sciences and Third Rock Ventures. PanOptica is a Mount Arlington, New Jersey-based biopharmaceutical company focused on licensing and developing innovative ophthalmology therapies, particularly topical treatments for retinal disease. Its lead asset is PAN-90806, a small-molecule selective VEGF inhibitor being developed as a topical (eye drop) treatment for neovascular age-related macular degeneration (neovascular AMD). PAN-90806 was previously studied in human oncology trials and has demonstrated safety, toxicology and pharmacokinetic profiles; the company expects to begin a Phase I clinical trial of the molecule in 2012. PanOptica completed a $30m Series A financing and concurrently licensed exclusive worldwide ophthalmic rights to PAN-90806 from OSI Pharmaceuticals in exchange for up-front cash, equity interest in PanOptica, and future milestones and royalties (amount undisclosed). The Series A was led by SV Life Sciences and Third Rock Ventures. The company also announced a board chaired by David Guyer with additional members from SV Life Sciences and Third Rock Ventures alongside PanOptica's CEO Paul Chaney, and plans to appoint two independent directors.

Total raised

$86M

Funding rounds

3

Latest round

Series B

Latest activity

Oct 2017