RevOpsis raises $16.5 million to advance neovascular AMD treatment candidate
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Key takeaways:
- The funding includes $7.5 million in non-dilutive capital.
- The financing will be used for investigational new drug-enabling studies of RO-104.
RevOpsis Therapeutics closed its first seed funding round and raised $16.5 million to advance RO-104, its lead candidate for the treatment of neovascular age-related macular degeneration.
The funding includes $7.5 million in non-dilutive capital, according to a press release, and will be used to complete the investigational new drug-enabling studies to secure FDA authorization and to conduct the first-in-human trials of RO-104, which are on track for 2025.
RO-104 is a trispecific biologic designed to address three angiogenic pathways, VEGF-A, VEGF-C and Ang-2, that drive retinal vascular disease progression, according to the release.
“The proceeds will accelerate our ongoing IND efforts for RO-104,” Ram Bhandari, MD, FASRS, interim CEO of RevOpsis, said in the release. “Additionally, the funds will be used to strengthen RevOpsis’ research capabilities to further develop a pipeline of first- and best-in-class retinal treatments.”
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