Invirsa closes $7.7 million Series B financing
Key takeaways:
- Invirsa secured $7.7 million in financing.
- The funding will advance development of INV-102 for ocular conditions associated with DNA damage.
Invirsa closed $7.7 million in Series B financing earlier this year, according to a press release.
The financing was led by CincyTech, with Rev1 Ventures, JobsOhio Growth Capital Fund and JumpStart Ventures contributing.
The funds will be used to advance INV-102, the company’s lead product candidate, an eye drop for the treatment of ocular conditions associated with DNA damage; support phase 2 studies in acute infectious keratoconjunctivitis, dry eye disease and Fuchs’ corneal dystrophy; and prepare for phase 3 studies.
“The recent Series B funding is a significant milestone for Invirsa, which allows us to advance the clinical development of INV-102, a topical eye drop that has completed initial testing in dry eye patients (phases 1 and 2a),” Robert Shalwitz, MD, CEO of Invirsa, said in the release. “Dry eye continues to be an important market with a significant unmet medical need. The recent investment, led by CincyTech with other Ohio life science investment funds, provides strong validation of our vision and approach.”