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Visionary Ventures leads a round of funding to support the development of sustained-release ophthalmic therapies
BELFAST, Northern Ireland, Nov. 30, 2022 /PRNewswire/ — Re-Vana Therapeutics Ltd, a privately held specialist drug delivery company developing sustained-release therapies for the treatment of sight-threatening eye diseases, has announced today the closing of its Series A round with 11.9 million dollars of financing, which represents an oversubscription of 4 million dollars. The funding was led by Visionary Ventures. Additional investors include ExSight Ventures, InFocus Capital Partners, and existing UK investors Qubis Ltd, Co-Fund NI, and TechStart Ventures.
The proceeds will advance the development of Re-Vana’s proprietary EyeLief®, EyeLief-SD™ and OcuLief® novel biodegradable drug delivery technologies, and will expand the company’s operations and development teams. With the successful completion of major non-clinical ocular safety, tolerability and efficacy studies, Re-Vana has demonstrated that its innovative platform can achieve sustained delivery of 6 months or more of an anti-VEGF biologic at therapeutically relevant levels with a high drug loading, a controlled burst release and a favorable degradation profile. Therefore, Re-Vana’s platform has the potential to enable sustained drug delivery through non-surgical delivery in office settings to treat ocular disease, overcoming several limitations and long-standing challenges in the field.
Along with this funding, Re-Vana’s board of directors has been further strengthened with the appointments of Dr. Robert Avery, of Visionary Ventures and InFocus Capital Partners, as a member of the board, and of Michael O’Rourke, president and chief executive officer. of Re-Vana Therapeutics, as Chairman of the Board.
“The funding from new and existing investors in these challenging times is a testament to the potential of Re-Vana’s technologies for the sustained delivery of biologic therapies,” said O’Rourke. “We are particularly fortunate to have received funding from multiple highly respected ophthalmology-focused venture capital firms and UK investors. Their proven knowledge and experience in ophthalmology are invaluable additions to Re-Vana as we accelerate the development of our portfolio. of products and expanded our strategic partnerships.”
“Re-Vana’s proprietary technology platforms offer significant potential to deliver novel and approved biologics for at least 6 months in the clinic, reducing the need for frequent intravitreal injections and amplifying therapeutic efficacy in the treatment of major ocular diseases,” said Dr. Avery.
Re-Vana is a technology company spun off from Queen’s University, located in Belfast, Northern Ireland. The company is currently developing a sustained-release ophthalmic therapy intended to reduce the frequency of intravitreal injections required to treat a wide range of retinal diseases, including neovascular age-related macular degeneration (wet AMD). In addition, Re-Vana’s proprietary photocrosslinked sustained release technology may enable the development of a wide range of novel sustained release products applicable to a variety of therapeutic areas.
For more information, see O’Rourke’s presentation at the Ophthalmology Innovation Summit XII (OIS XII), taking place on December 2-3, 2022 in San Diego, California. O’Rourke will speak during the Retina Innovation Showcase, which will take place from 11:40 am to 12:50 pm PT on December 3.
About Re-Vana Therapeutics
Re-Vana Therapeutics Ltd, founded in 2016 as a spin-off of Queen’s University Belfast, Northern Ireland, is a specialist eye therapy and drug delivery company headquartered in Belfast with an office in the US, Re-Vana Therapeutics , Inc. in Tampa, Florida. Re-Vana is focused on developing its internal product portfolio as well as external strategic collaborations to advance its novel drug delivery platform. To date, Re-Vana has raised more than $17.75 million to support the development of sustained-release biologics. In 2022, Re-Vana won the Ophthalmic Innovation Summit Retina Award in the field of drug delivery and the Belfast Chamber of Northern Ireland 2022 Business Innovation Award.
About Visionary Ventures
Visionary Ventures is a venture capital firm leveraging a unique informational advantage strategy through partnerships with more than 80 KOLs, industry experts, and strategic acquirers to connect capital and insights with the most promising data science startups. life and ophthalmology. By involving its team of experts, professionals and industry leaders at the forefront of the process, Visionary enables informed decisions about your venture investments and provides valuable guidance to your portfolio companies to maximize their potential. Learn more about his people, his portfolio and his perspectives at www.visionaryvc.com and connect on LinkedIn.
EyeLief®, EyeLief™ and OcuLief® are trademarks of Re-Vana Therapeutics Ltd.
Media Contact: Michele GrayGray Communications, LLC.michele@mgraycommunications.com 1 917 449 9250
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