Investigational New Drug enabling studies
initiated: On track for first-in-human trials in 2025
SAN
CARLOS, Calif., April 25,
2024 /PRNewswire/ -- RevOpsis Therapeutics, a
next-generation biopharmaceutical company spearheading innovation
in ophthalmic therapies, announced today it has successfully closed
its first seed funding round, raising $16.5
million to propel its mission to develop and commercialize
treatments for chronic multifactorial diseases through the
company's fully human multispecific proprietary Rev-Mod
Platform.
The $16.5 million raised includes
$7.5 million in non-dilutive capital.
The financing will fund the completion of the Investigational New
Drug (IND) enabling studies to secure FDA authorization and conduct
the first-in-human clinical trials with the company's lead
candidate, RO-104 for the treatment of neovascular age-related
macular degeneration (nAMD). This seed round will also support
the ongoing discovery and development of RevOpsis' pipeline, and
allow the company to hire key management to drive the company
forward.
Neovascular AMD represents the largest retinal disease
opportunity in the major global healthcare markets, with over four
million patients expected to be living with the blinding disease
over the next 5 years1. In 2023 alone, global nAMD
revenues of anti-VEGF-A inhibitors were estimated to be
approximately $9 billion.
Vision gain and treatment burden remain significant unmet needs
in the treatment of nAMD and other major retinal vascular diseases.
RO-104 is a first-in-class modular tri-specific biologic curated to
target all three dominant angiogenic pathways implicated in
exudative retinal diseases. It has the potential to be the first
monotherapy agent to improve visual outcomes and extend disease
remission in patients suffering with nAMD.
This round of funding consists of notable strategic investments
including a leading contract development and manufacturing
organization (CDMO) with global commercial drug supply
capabilities, an ophthalmic drug and device development firm, and
various private and angel investors, including several leading
retina specialists. The financing milestone is anticipated to put
the company on track to enable first-in-human studies with RO-104
in 2025.
"This seed funding round validates our proprietary Rev-Mod
platform and facilitates the development of RevOpsis' next
generation multispecific antibody platform to address the unmet
needs of patients suffering with sight threatening diseases," said
interim CEO Dr. Ram Bhandari. "The proceeds will accelerate our
ongoing IND efforts for RO-104. Additionally, the funds will be
used to strengthen RevOpsis' research capabilities to further
develop a pipeline of first and best-in-class retinal treatments.
We are grateful for the support of our investors and excited to
continue advancing the RevOpsis mission of bringing responsible and
affordable therapeutic innovation to patients worldwide."
With the recent infusion of capital, RevOpsis is well positioned
to further develop its first-in-class lead candidate and move
forward the pipeline research efforts.
About RO-104
Leveraging the proprietary Rev-Mod
platform, RO-104 is RevOpsis' current lead candidate. Engineered as
a first-in-class fully human modular tri-specific
biologic designed to address all three clinically validated
dominant angiogenic pathways (VEGF-A, VEGF-C, Ang-2) implicated in
retinal vascular disease progression, including neovascular
age-related macular degeneration (nAMD). RO-104 represents a
significant innovative advancement in the treatment landscape for
retinal vascular diseases. Backed by a significant body of
preclinical evidence demonstrating intended efficacy and safety in
established animal models, RO-104 heralds a transformative approach
positioned to redefine the current standard of care for patients
with nAMD.
About Rev-Mod Platform
The proprietary Rev-Mod
Platform employs a modular 'plug-and-play' approach to streamline
and expedite the efficient discovery and development of
multispecific biologics targeting a wide spectrum of chronic,
prevalent, large diseases, that are the leading causes of death and
disability worldwide. Our proprietary platform boasts a vast
library of nearly 30 billion fully human antibody components in a
structured phage display system, facilitating rapid identification
and assembly of multispecific product candidates. With seamless
compatibility, the Rev-Mod platform enables swift and efficient
design of multispecific biologics to address unmet needs in major
therapeutic areas including ophthalmology, oncology, and
immune-mediated diseases.
About RevOpsis Therapeutics
Founded in 2018, RevOpsis
Therapeutics is a privately held, next-generation biopharmaceutical
company spearheading innovation in ophthalmic therapies. Guided by
a team of leading physicians, scientists, and business leaders, we
are dedicated to leveraging our proprietary Rev-Mod Platform to
develop and commercialize groundbreaking treatments for chronic
multifactorial diseases. With a steadfast commitment to responsibly
advancing patient care, we aim to usher in a new era of improved
disease management and extended disease remission. For more
information, please visit www.revopsis.com.
- Market Scope. "2023 Retinal Pharmaceuticals Market Report:
Global Analysis for 2022 to 2028." August
2023. Retrieved from
https://www.market-scope.com/pages/reports/401/2023-retinal-pharmaceuticals-market-report-global-analysis-for-2022-to-2028-august-2023
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