Participated · Series C · Apr 2022

Aurion Biotech is a clinical-stage company developing a cultured donor-derived cell therapy to treat corneal edema secondary to endothelial dysfunction. Its lead candidate, acquired in 2020 from Kyoto Prefecture University of Medicine and developed by Professor Shigeru Kinoshita and colleagues, is one of the first clinically validated cell therapies in corneal care. Cells manufactured from a single donor can treat more than 100 recipient eyes; clinical studies treating over 100 patients in Japan and El Salvador have shown durable improvements in visual acuity, endothelial cell density and corneal thickness. The company is preparing a J-NDA for market approval in Japan and an IND to initiate U.S. clinical trials. Aurion says the target population for its therapy is approximately 16 million people in the US, Europe and Japan. Proceeds from its recent financing will be used to advance the cell therapy program toward regulatory and clinical milestones.

Participated · Series B · Aug 2020

TearClear is a Boston, MA-based ophthalmic pharmaceutical company advancing multiple clinical programs, with two lead candidates targeting glaucoma. The company plans to use new funding to advance those clinical programs and pursue future indications. TearClear is led by Chief Executive Officer Robert Dempsey. It recently appointed Stuart Raetzman, formerly CEO of Galderma, to its board of directors. The announcement emphasizes progress across its glaucoma candidates as the near-term clinical focus. TearClear is an Orange County, California-based eye health technology company developing a delivery system to enable preservative-free topical ophthalmic drugs from existing preserved, multi-dose systems. The company's technology targets drugs used to treat chronic ophthalmic diseases where benzalkonium chloride (BAK) is commonly used to assure sterility. TearClear aims to address the global market for ophthalmologic drugs, including treatments for glaucoma, over-the-counter dry eye, and allergic conjunctivitis. Leadership includes CEO Kevin Hershfield, Chairman Rick Heinick, Chief Science & Technology Officer Richard D’Souza, Head of Clinical Development Howard Golub, and inventor Anuj Chauhan. The company raised $4.5M in Series A financing and plans to use the proceeds to advance development of its delivery system for preservative-free ophthalmic drugs. William Link, PhD, with executive and investment expertise in ophthalmology, was appointed to the board of directors as part of the financing.

Participated · Series B · Jan 2020

Tarsus Pharmaceuticals is an Irvine, Calif.-based clinical-stage biopharmaceutical company led by CEO Bobby Azamian, MD, PhD. Its lead product, TP-03, is a topical ophthalmic designed to target Demodex, an underlying cause of blepharitis, and has the potential to be the first-ever drug treatment for the condition. The company’s pipeline includes additional indications in eye care and other programs addressing high unmet clinical need. Tarsus closed a $60M Series B to advance its clinical programs. The funds will be used to initiate a Phase 2b/3 trial in the U.S. of TP-03 and to support Phase 1 and Phase 2 development of other clinical programs. The company was founded to bring innovative therapies to a range of diseases in need of better solutions.

Led · Series B · Feb 2019

Oyster Point Pharma is a clinical-stage pharmaceutical company focused on developing novel therapies for Dry Eye Disease. Its lead candidates, OC-01 and OC-02, are delivered via an ocular surface-sparing nasal spray designed to stimulate the trigeminal parasympathetic pathway and promote natural tear-film production. In Phase 2b studies, patients administered either OC-01 or OC-02 experienced rapid and significant improvements in both signs and symptoms of Dry Eye Disease, and both candidates were well-tolerated with no significant ocular adverse events or drug-related serious adverse events. The company plans to initiate a Phase 3 clinical development program and to advance additional pipeline assets while exploring new treatment areas. Oyster Point will use the $93 million Series B proceeds to support clinical development, explore new treatment areas, and add key talent. The company leverages nicotinic acetylcholine receptor (nAChR) agonists to target receptors on the trigeminal nerve accessible within the nose to activate the Lacrimal Functional Unit. Oyster Point Pharmaceuticals is a San Francisco, CA–based clinical-stage pharmaceutical company focused on the discovery, development and commercialization of novel therapies to treat ocular surface disease. Its core programs center on lead compounds targeting dry eye and other ocular surface disorders. The company completed a $22M Series A financing. The round was led by New Enterprise Associates and Versant Ventures. Oyster Point intends to use the proceeds to fund Phase II clinical trials of its lead compounds. Jeffrey Nau, Ph.D., MMS, serves as President and CEO.

Led · Series A · May 2018

Surface Ophthalmics is a Pleasanton, CA-based pharmaceutical company focused on the development and commercialization of innovative therapeutics for ocular diseases. Led by President and CEO Kamran Hosseini, MD, PhD, the company is advancing three ophthalmic product candidates: SURF-100 for chronic dry eye, SURF-200 for acute dry eye, and SURF-201 for pain and inflammation following ocular surgery. These programs utilize the Klarity delivery vehicle developed by Richard L. Lindstrom, MD, which is designed to enhance patient comfort and protect and rehabilitate the ocular surface. The company raised $25M from a mix of new and existing investors, including institutional, healthcare-focused and other accredited investors and members of the Surface board. Surface intends to use the funds to advance its clinical programs in ocular diseases. After completing current Phase II studies, the company plans to begin enrolling patients in Phase III trials targeting FDA approval for all three candidates. Surface Pharmaceuticals, led by CEO Kamran Hosseini MD, PhD, focuses on development and commercialization of therapeutics for ocular surface diseases using the Section 505(b)(2) regulatory pathway. Its current pipeline consists of three proprietary drug candidates: topical eye drops SURF-100 and SURF-200, which use a patented delivery vehicle invented by Dr. Richard Lindstrom, and SURF-300, a patent-pending oral capsule. The company plans to seek FDA approval for its three candidates for up to five indications, including treatments for Dry Eye Disease. Surface intends to use the proceeds of the financing to advance its clinical development programs and for general corporate purposes. At the time of the report the company was an affiliated entity of Imprimis Pharmaceuticals (NASDAQ: IMMY). The closing of the financing is expected to allow Surface to be deconsolidated from Imprimis and become a separately financed and managed entity.