Perceive Pharma, a pharmaceutical company that is pioneering novel small molecule therapeutics in ophthalmology, announced the closing of a $15 million Series A funding round, including Deerfield Management, Johnson & Johnson (through its corporate venture capital organization, Johnson & Johnson Innovation – JJDC, Inc.), Braidwell LP, GV, the Retinal Degeneration Fund, and Catalio Capital Management, LP. Perceive Pharma was spun out from Perceive Biotherapeutics to accelerate the development of novel neuroprotective therapeutics in glaucoma and other indications. The company also brought in Carol Gallagher, Pharm.D., to the Perceive Pharma Board as an independent Board Director.
Perceive Pharma is focused on the neuroprotective pathways first elucidated in a genomic screening by co-founders Drs. Don Zack and Derek Welsbie also collaborated with a key industry partner to position Perceive Pharma with a library of neuroprotective drug candidates, including its lead therapeutic candidate, PBI-671. The Series A proceeds will advance the development of first-in-class therapies to prevent vision loss in glaucoma and additional undisclosed disease areas.
Perceive Pharma also announced that Carol Gallagher, Pharm.D., has joined the company’s Board of Directors as an independent director. Dr. Gallagher is an industry veteran with over 35 years of biopharma experience, holding roles of increasing responsibility in commercial, drug development, and business development in both large and small biopharma companies, including Eli Lilly, Amgen, Pfizer, and IDEC Pharmaceuticals. As the CEO of Calistoga Pharmaceuticals, she drove the company’s acquisition by Gilead in 2011, after which she held Partner and Advisor roles in biopharma venture capital investing at New Enterprise Associates and Frazier. Plus, she currently serves as an independent director on private and public biopharma company boards, including Atara Bio, PMV Pharma, TREX Bio, Recludix Pharmaceuticals, OncoResponse, and Slope.io.
Perceive Pharma is a resident of JLABS @ San Diego, part of Johnson & Johnson Innovation – JLABS, a global life science incubator network, offering startups with access to capital-efficient lab space, equipment, and resources, including expertise, community, and entrepreneurial programs.
KEY QUOTES:
“We are delighted by Carol’s addition to the board and welcome her contributions across the business. We look forward to working with our syndicate partners as Perceive Pharma continues to build compelling preclinical evidence of ophthalmic neuroprotection in key models of glaucoma.”
– Cameron Wheeler, Partner at Deerfield Management
“All approved drugs for glaucoma target the lowering of intraocular pressure, but about half of glaucoma patients have normal pressures and continue to lose vision. The deep science underlying the identification of Perceive’s targets differentiates its programs and provides promise for new, transformative treatments for sight-saving therapies for the more than 1.5 million Americans and others worldwide with glaucoma whose disease is continuing to progress, despite access to current treatments.”1
– K. Angela Macfarlane, CEO
“I am delighted to join the Board of Perceive Pharma and to support this committed and experienced team working on first-in-class neuroprotective drugs. As a new spinout, Perceive Pharma is at a key inflection point and I am committed to working with the team and Board as we chart our path through this critical phase of development and growth.”
– Dr. Carol Gallagher
