RevOpsis Therapeutics, a cutting-edge biopharmaceutical company focusing on ophthalmic therapies, has announced the successful closure of its first seed funding round, securing $16.5 million. This funding will drive the development and commercialization of treatments for chronic multifactorial diseases through RevOpsis’ proprietary Rev-Mod Platform.
Of the total amount raised, $7.5 million comes from non-dilutive capital sources. These funds will support the completion of Investigational New Drug (IND) enabling studies for RO-104, RevOpsis’ lead candidate for treating neovascular age-related macular degeneration (nAMD). The financing will also facilitate the initiation of the first-in-human clinical trials for RO-104 and the ongoing discovery and development of RevOpsis’ pipeline. Additionally, the company plans to utilize the funding to hire key management personnel to drive its objectives forward.
Neovascular AMD presents a significant opportunity in the retinal disease space, with an estimated four million patients expected to be affected over the next five years. In 2023, global revenues for anti-VEGF-A inhibitors, a common treatment for nAMD, reached approximately $9 billion. However, significant unmet needs persist in terms of vision improvement and treatment burden.
RO-104 is a novel tri-specific biologic designed to target all three dominant angiogenic pathways involved in exudative retinal diseases like nAMD. It has the potential to be the first monotherapy agent capable of enhancing visual outcomes and extending disease remission in nAMD patients.
The seed funding round includes strategic investments from leading organizations in contract development and manufacturing, ophthalmic drug and device development, as well as private and angel investors, including prominent retina specialists. This financial milestone positions RevOpsis to commence first-in-human studies with RO-104 by 2025.
Dr. Ram Bhandari, interim CEO of RevOpsis, expressed gratitude for the support of investors and emphasized the significance of this funding in advancing the company’s mission of delivering innovative therapeutic solutions to patients globally. With this infusion of capital, RevOpsis is poised to advance the development of its lead candidate and drive forward its pipeline research efforts.
