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ONL Therapeutics receives approximately $1 million grant from NEI

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The National Eye Institute has awarded ONL Therapeutics a grant worth almost $1 million to continue developing its lead therapeutic candidate ONL1204, according to a company press release.

ONL1204 is a small molecule FAS inhibitor designed to protect retinal cells, including photoreceptors, from cell death that occurs in multiple retinal diseases.

The funding will go toward preclinical development activities that are necessary to submit an investigational new drug application, the release said. ONL1204 is being developed to treat retinal detachment.

“By providing the funds that will help us advance ONL1204 to the point of IND filing, the NEI is playing a key role in research that may one day make a difference in the lives of ocular disease patients,” John Freshley, CEO of ONL Therapeutics, said in the release.