Qlaris raises $24 million for development of IOP-lowering therapy
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Qlaris Bio raised $24 million during series B financing for the clinical development of QLS-111, a new IOP-lowering drug candidate for patients with glaucoma, the company announced in a press release.
The financing was co-led by Canaan and New Leaf Venture Partners, and included abrdn Inc., Mayo Clinic Ventures and Correlation Ventures as well.
The drug is under development to relieve IOP by reducing distal outflow resistance and episcleral venous pressure (EVP). QLS-111 is being tested for safety, tolerability, optimal dosing and efficacy in two phase 2 trials among patients with open-angle glaucoma and ocular hypertension.
Currently there are no approved medications that treat IOP by targeting EVP, according to the release.
“We are grateful to have the support of this outstanding syndicate of leading life science investors, which will enable the continued development of our lead product, QLS-111,” Qlaris CEO and co-founder Thurein Htoo, MS, MBA, said in the release. “Qlaris is dedicated to developing new mechanisms of action that target unaddressed parameters within IOP regulation, an area of critical need.”
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