Tenpoint Therapeutics has secured $235 million in new funding to support the planned commercialization of its presbyopia treatment, YUVEZZI. The company said the capital combines an $85 million Series B preferred stock financing and a $150 million non-dilutive senior secured term loan facility.
The Series B round was led by Janus Henderson Investors, EQT Nexus, Hillhouse, and British Business Bank. Tenpoint said existing investors also participated, including EQT Life Sciences, Sofinnova Partners, F-Prime Capital, Eight Roads Ventures, Qiming Venture Partners USA, AdBio Partners, and Wille Finance.
In parallel with the equity raise, Tenpoint entered into a $150 million term loan facility with Hercules Capital, which the company described as non dilutive financing that further strengthens its balance sheet ahead of launch preparations.
Tenpoint said YUVEZZI is a dual agent eye drop for the treatment of presbyopia and positioned the product as a differentiated option based on its safety and tolerability profile. The company expects to launch YUVEZZI in early Q2.
KEY QUOTES
“We deeply appreciate the support of our strong syndicate of global, long-term investors. This financing reflects their confidence in YUVEZZI, a new differentiated option for millions of people living with the daily frustration and challenges of presbyopia. With our strengthened balance sheet, we are excited to launch YUVEZZI in early Q2.”
Henric Bjarke, Chief Executive Officer, Tenpoint Therapeutics
“It’s incredibly exciting to see the Series B financing and YUVEZZI approval align at the same moment, creating the perfect launch point for this exceptional ophthalmology team to deliver a best-in-class dual agent to this massive market.”
David Guyer, M.D., Chairman, Tenpoint Therapeutics
“YUVEZZI’s differentiated favorable safety and tolerability profile reinforces our confidence in its commercial potential to resonate with patients and providers as Tenpoint drives towards its successful launch. With extensive ophthalmology experience, Tenpoint’s leadership team has executed key milestones toward commercialization and is well positioned to bring this differentiated new treatment to the presbyopia market.”
Agustin Mohedas, Ph.D., Portfolio Manager & Research Analyst, Janus Henderson Investors
