RevOpsis Therapeutics, a next-generation biopharmaceutical company driving innovation in ophthalmic therapies, announced it successfully closed its first seed funding round, raising $16.5 million to accelerate its goal to develop and commercialize treatments for chronic multifactorial diseases through the company’s fully human multispecific proprietary Rev-Mod Platform.
The $16.5 million funding includes $7.5 million in non-dilutive capital. And the financing will be used to complete 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 funding round will also support the ongoing discovery and development of RevOpsis’ pipeline and enable the company to hire key management.
Neovascular AMD represents the biggest 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 few years. Last year alone, global nAMD revenues of anti-VEGF-A inhibitors were estimated to be about $9 billion.
Vision gain and treatment burden remain significant unmet needs for the treatment of nAMD and other major retinal vascular diseases. And RO-104 is a modular tri-specific biologic curated to target all three dominant angiogenic pathways implicated in exudative retinal diseases. Plus, it has the potential to be the first monotherapy agent to improve visual outcomes and extend disease remission in patients suffering with nAMD.
This funding round 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 funding milestone is anticipated to put the company on track to enable first-in-human studies with RO-104 in 2025.
KEY QUOTE:
“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. 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.”
- Interim CEO Dr. Ram Bhandari
