Subject: VEN
RevOpsis Secures $16.5 Million Seed Funding to Advance First-in-Class Tri-Specific Therapy for Neovascular AMD Treatment
Investigational New Drug enabling studies initiated: On track for first-in-human trials in 2025
SAN CARLOS, Calif., April 25, 2024 /PRNewswire/ -- RevOpsis Therapeutics, a next-generation biopharmaceutical company spearheading innovation in ophthalmic therapies, announced today it has successfully closed its first seed funding round, raising $16.5 million to propel its mission to develop and commercialize treatments for chronic multifactorial diseases through the company's fully human multispecific proprietary Rev-Mod Platform.
The $16.5 million raised includes $7.5 million in non-dilutive capital. The financing will fund the completion of the Investigational New Drug (IND) enabling studies to secure FDA authorization and conduct the first-in-human clinical trials with the company's lead candidate, RO-104 for the treatment of neovascular age-related macular degeneration (nAMD). This seed round will also support the ongoing discovery and development of RevOpsis' pipeline, and allow the company to hire key management to drive the company forward.
Neovascular AMD represents the largest retinal disease opportunity in the major global healthcare markets, with over four million patients expected to be living with the blinding disease over the next 5 years1. In 2023 alone, global nAMD revenues of anti-VEGF-A inhibitors were estimated to be approximately $9 billion.
Vision gain and treatment burden remain significant unmet needs in the treatment of nAMD and other major retinal vascular diseases. RO-104 is a first-in-class modular tri-specific biologic curated to target all three dominant angiogenic pathways implicated in exudative retinal diseases. It has the potential to be the first monotherapy agent to improve visual outcomes and extend disease remission in patients suffering with nAMD.
This round of funding consists of notable strategic investments including a leading contract development and manufacturing organization (CDMO) with global commercial drug supply capabilities, an ophthalmic drug and device development firm, and various private and angel investors, including several leading retina specialists. The financing milestone is anticipated to put the company on track to enable first-in-human studies with RO-104 in 2025.
"This seed funding round validates our proprietary Rev-Mod platform and facilitates the development of RevOpsis' next generation multispecific antibody platform to address the unmet needs of patients suffering with sight threatening diseases," said interim CEO Dr. Ram Bhandari. "The proceeds will accelerate our ongoing IND efforts for RO-104. Additionally, the funds will be used to strengthen RevOpsis' research capabilities to further develop a pipeline of first and best-in-class retinal treatments. We are grateful for the support of our investors and excited to continue advancing the RevOpsis mission of bringing responsible and affordable therapeutic innovation to patients worldwide."
With the recent infusion of capital, RevOpsis is well positioned to further develop its first-in-class lead candidate and move forward the pipeline research efforts.
About RO-104
Leveraging the proprietary Rev-Mod platform, RO-104 is RevOpsis' current lead candidate. Engineered as a first-in-class fully human modular tri-specific biologic designed to address all three clinically validated dominant angiogenic pathways (VEGF-A, VEGF-C, Ang-2) implicated in retinal vascular disease progression, including neovascular age-related macular degeneration (nAMD). RO-104 represents a significant innovative advancement in the treatment landscape for retinal vascular diseases. Backed by a significant body of preclinical evidence demonstrating intended efficacy and safety in established animal models, RO-104 heralds a transformative approach positioned to redefine the current standard of care for patients with nAMD.
About Rev-Mod Platform
The proprietary Rev-Mod Platform employs a modular 'plug-and-play' approach to streamline and expedite the efficient discovery and development of multispecific biologics targeting a wide spectrum of chronic, prevalent, large diseases, that are the leading causes of death and disability worldwide. Our proprietary platform boasts a vast library of nearly 30 billion fully human antibody components in a structured phage display system, facilitating rapid identification and assembly of multispecific product candidates. With seamless compatibility, the Rev-Mod platform enables swift and efficient design of multispecific biologics to address unmet needs in major therapeutic areas including ophthalmology, oncology, and immune-mediated diseases.
About RevOpsis Therapeutics
Founded in 2018, RevOpsis Therapeutics is a privately held, next-generation biopharmaceutical company spearheading innovation in ophthalmic therapies. Guided by a team of leading physicians, scientists, and business leaders, we are dedicated to leveraging our proprietary Rev-Mod Platform to develop and commercialize groundbreaking treatments for chronic multifactorial diseases. With a steadfast commitment to responsibly advancing patient care, we aim to usher in a new era of improved disease management and extended disease remission. For more information, please visit www.revopsis.com.
- Market Scope. "2023 Retinal Pharmaceuticals Market Report: Global Analysis for 2022 to 2028." August 2023. Retrieved from https://www.market-scope.com/pages/reports/401/2023-retinal-pharmaceuticals-market-report-global-analysis-for-2022-to-2028-august-2023
SOURCE RevOpsis
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