The Venture Codex

Participated · Series A · Nov 2022

Re-Vana Therapeutics develops proprietary photo-crosslinked, biodegradable sustained-release ophthalmic drug-delivery technologies, including EyeLief®, EyeLief-SD™ and OcuLief®. The company aims to reduce the frequency of intravitreal injections for a range of retinal diseases, including neovascular age-related macular degeneration (wet AMD). Re-Vana intends to use recent financing to advance development of its drug-delivery platforms and to expand operations and development teams. Founded in 2016 as a spin-out from Queen's University Belfast, the company is headquartered in Belfast with a U.S. office in Tampa, Florida. Its technology may enable a broader set of sustained-release products across multiple therapeutic areas. The company strengthened its board in conjunction with the financing, appointing Robert Avery, M.D., of Visionary Ventures and InFocus Capital Partners as a board member and naming Michael O’Rourke as board chair. Re-Vana closed a Series A round totaling $11.9M to support these plans. Re-Vana Therapeutics is developing proprietary photocrosslinked EyeLief™ and OcuLief™ biodegradable technologies to deliver biologic and small-molecule therapeutics for retinal and other ocular diseases. The platform has demonstrated at least four months sustained release of an anti-VEGF drug with greater than 50% drug loading and targets 4–6 months delivery for large-molecule biologics and 6–9 months for small molecules. Proceeds from recent financing will advance proof-of-concept and preclinical development and enable expansion of the company’s research and development team. Re-Vana also holds rights to a novel nanoparticle polymer–based drug delivery technology for ophthalmic applications. The company was founded in 2016 as a spin-out from Queen’s University Belfast and maintains its main office in Belfast with a U.S. office in Tampa, Florida. Re-Vana has previously received Innovate U.K. funding (more than $400K) and entered a 2020 strategic feasibility collaboration with a global pharmaceutical company.

Led · Series A · Mar 2021

Stuart Therapeutics is a clinical-stage biopharmaceutical company based in Stuart, Fla., developing unique synthesized peptide therapeutics for ophthalmic diseases. Its platform, PolyCol™, is a synthesized peptide designed to repair and restore structural integrity and cell interaction domains in extracellular matrix (ECM) collagen. The company's lead candidate, ST-100, is a reparative therapeutic formulated as a topical drop for the treatment of dry eye disease and is the first drug candidate from the PolyCol platform. Stuart is pursuing variants of the PolyCol platform for additional ophthalmic indications, including glaucoma, dry and wet age-related macular degeneration, and neurotrophic keratitis. The company is led by President & CEO Eric Schlumpf. In March 2021 Stuart Therapeutics raised $11M in a Series A to fund development.

Participated · Series B · Dec 2020

ONL Therapeutics is a clinical-stage biopharmaceutical company focused on developing therapeutics to protect and improve vision in patients with retinal disease, specifically geographic atrophy (GA) associated with dry AMD. The firm targets a mechanism of action that prevents Fas-mediated death of retinal cells and inflammatory signaling pathways, which it cites as root causes of vision loss. Its lead candidate, ONL1204 Ophthalmic Solution, showed reductions in the rate of growth of GA lesions in a Phase 1b trial after six months with either a single injection or two injections 90 days apart versus sham. A consistent treatment effect was observed when comparing treated eyes to fellow eyes. The company is led by CEO David Esposito and co-founder and chief scientific officer David Zacks, M.D., Ph.D. ONL plans to use the new financing to expand development efforts and further advance its differentiated clinical program in GA. ONL Therapeutics is a clinical-stage biopharmaceutical company based in Ann Arbor, Michigan, developing first-in-class therapeutics to protect retinal cells from Fas-mediated cell death. Its lead asset, ONL1204 Ophthalmic Solution, is a novel small-molecule Fas inhibitor intended to protect photoreceptors and other retinal cells across a range of retinal diseases. ONL1204 has an active IND and has been granted orphan drug designation by the FDA for macula-off rhegmatogenous retinal detachment (RRD). The company is preparing to initiate a U.S.-based Phase 2 study in macula-off RRD next quarter and is conducting two ongoing Phase 1b studies in geographic atrophy (GA) associated with AMD and in progressing open-angle glaucoma (OAG) at sites in Australia and New Zealand. Preclinical work is ongoing to enable trials in other indications, including inherited retinal degeneration. The recently announced financing will support advancement of ONL1204 into Phase 2 and regulatory preparations for additional Phase 2 programs in GA and OAG. ONL Therapeutics, based in Ann Arbor, Michigan, is developing novel therapies to protect vision in patients with retinal disease. Its lead compound, ONL1204, is a novel small-molecule Fas inhibitor designed to protect key retinal cells, including photoreceptors, from Fas-mediated cell death. The company is building a platform of products intended for a range of blinding diseases, including retinal detachment, glaucoma, age-related macular degeneration (AMD), and inherited retinal degeneration (IRD). ONL1204 has been granted orphan drug designation by the U.S. FDA for retinal detachment, and the company has focused initial clinical plans on the acute indication of retinal detachment while pursuing preclinical work for chronic indications. Planned clinical activity includes completing a Phase 1 study in retinal detachment and initiating Phase 1b studies in open-angle glaucoma and dry AMD, plus a repeat-dose toxicology study to support accelerated chronic dosing. The company is led by CEO David Esposito and co-founder/CSO David Zacks, M.D., Ph.D. ONL Therapeutics is developing a platform of Fas inhibitors intended to protect key retinal cells and preserve vision across a range of retinal diseases. Its lead compound, ONL1204, is a novel, first-in-class small-molecule Fas inhibitor designed to protect photoreceptors and other retinal cells from cell death. ONL1204 has been granted orphan drug designation by the U.S. FDA for the treatment of retinal detachment. The company is preparing ONL1204 for a Phase I study in retinal detachment to be conducted in Australia later in 2019. ONL is pursuing a Series B to continue funding clinical development and to expand its Fas inhibitor pipeline into indications including glaucoma, age-related macular degeneration, and inherited retinal degeneration. Financially, ONL recently raised $3 million in a convertible note from a mix of current investors, management, and new investors to advance its clinical program. ONL Therapeutics is developing ONL1204, a novel first‑in‑class small‑molecule Fas inhibitor designed to prevent retinal cell death via direct and inflammatory signaling. The company is initially advancing ONL1204 toward clinical trials for retinal detachment, where the compound has received U.S. FDA orphan drug designation. Preclinical data and literature cited by the company support potential application of ONL1204 in glaucoma, wet and dry age‑related macular degeneration (AMD), non‑infectious uveitis and other retinal neuropathies. ONL closed a $4.25 million Series A and combined those proceeds with a recently announced $1.0 million grant from the National Eye Institute to finalize preclinical development. The financing also included conversion of a previously announced $1.0 million bridge loan. Funds will be used to complete preclinical work, prepare for first‑in‑human trials, and broaden research into other ocular indications with significant unmet need.

Participated · Series A · Jul 2019

Trefoil Therapeutics is developing novel engineered fibroblast growth factor-1 proteins (eFGF-1) as regenerative pharmacologic therapies to treat serious corneal endothelial diseases and epithelial disorders. Its lead product candidate, TTHX1114, is an engineered form of FGF‑1 designed to reverse vision loss by stimulating cell proliferation and migration. The underlying technology was developed by co‑founder Michael Blaber, Ph.D., and is licensed from Florida State University. The company is led by co‑founder and CEO David Eveleth, Ph.D., and is advancing both intravitreal/clinical and topical programs. Trefoil plans to complete a Phase 2a proof‑of‑concept study in corneal endothelial dystrophy (including Fuchs dystrophy) and to file an IND with the FDA in early 2020 to initiate that clinical trial. The company is also conducting IND‑enabling studies for a topical formulation of TTHX1114 with a planned second IND submission for corneal epithelial conditions in 2021.

Led · Series A · Feb 2019

Pr3vent has developed an AI-based platform that screens retinal images of newborns to flag potential eye abnormalities that require follow-up. The system was trained on hundreds of thousands of newborn retinal images obtained under an exclusive license and is reported to be about 97% accurate for screening. Today the company is focused on an initial screening tool to assist clinicians rather than delivering full diagnostic reads. Pr3vent has a commercialization agreement with Mednax, which gives the company access to a broad hospital customer base. The team is pursuing FDA regulatory clearance and was in the FDA pre-submission process with hopes of clearance by the end of 2020. Financially, the company recently raised a $1.5 million Series A and previously completed a $1.0 million seed round. Pr3vent is a Palo Alto, California-based healthcare IT company developing artificial intelligence and machine learning screens for ophthalmic newborn conditions. Its core product work focuses on patented algorithms and a screening service designed expressly for newborn eye screening. The company is developing an eye screening diagnostic service that applies its algorithms to detect ophthalmic conditions in newborns. Pr3vent says it will use proceeds from a recent seed funding round to accelerate development of that screening service. The company was founded by medical field veterans Jochen Kumm, PhD, and Darius M. Moshfeghi, MD. The article disclosed no operating metrics or revenue figures.