A spin-out of Queen’s College Belfast, Re-Vana is doing work to boost the therapy of eye health conditions by reducing the need to have for frequent drug administrations.
Belfast-based mostly Re-Vana Therapeutics has lifted $11.9m in Collection A funding to develop its drug delivery technological know-how for ocular conditions.
The funding spherical was oversubscribed by $4m. It was led by Visionary Ventures, a VC fund that focuses on the long term of ophthalmology.
More traders incorporated ExSight Ventures and InFocus Cash Partners, together with present British isles buyers QUBIS, Co-Fund NI and Techstart Ventures.
Re-Vana Therapeutics was launched in 2016 as a spin-out from Queen’s College Belfast. The begin-up aims to increase the treatment of ocular illnesses by cutting down the need for frequent drug administrations.
Its drug shipping and delivery products involve EyeLief, which is a preformed implant that is injected into the eye through slender gauge needles, giving sustained drug delivery to the eye for up to 6 months. The firm has also intended an injectable gel-based implant referred to as OcuLief for sustained-launch drug supply to the eye.
Re-Vana reported the most up-to-date funding will assistance it progress the development of its drug shipping technological know-how and empower the expansion of its operations and development teams.
Alongside with the financing, the Northern Ireland-headquartered corporation has appointed Visionary Ventures and InFocus Funds Companions MD Robert Avery to its board of administrators. Re-Vana president and CEO Michael O’Rourke has been appointed as the chair of the board.
“We are particularly fortunate to have gained adhere to-on financing from various, very revered US ophthalmic-targeted venture money corporations and Uk buyers,” O’Rourke said.
“Their confirmed information and skills in ophthalmology are a must have additions to Re-Vana as we speed up the growth of our pipeline and extend our strategic partnerships.”
To date, Re-Vana has lifted additional than $17.75m to help the advancement of its drug shipping technology.
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