PolyActiva Appoints Jerry St. Peter as CEO; Secures Financing to Advance Prezia Technology Platform
PolyActiva announced two milestones in its next phase of growth: the appointment of biopharmaceutical executive Jerry St. Peter as CEO and board director, and the successful close of a $25M Series C funding round led by an Australian Sovereign Wealth Fund with continued strong support from Brandon Capital.
Mr. St. Peter succeeds current CEO Vanessa Waddell, who will remain as part of the company’s executive leadership team in the role of chief strategy officer. PolyActiva is in late-stage development of its lead product candidate, PA5108, a biodegradable, sustained-release ocular implant designed to deliver latanoprost for the reduction of IOP in patients with ocular hypertension and glaucoma. Under Mr. St. Peter’s leadership, PolyActiva plans to accelerate efforts to bring its lead product to market in the US, while maintaining its R&D and product development operations in Australia.
“We are excited to welcome Jerry as CEO of PolyActiva,” said Dr. Chris Nave, co-founder and managing partner at Brandon Capital and Chairman of the Board of PolyActiva. “He brings more than 30 years of leadership and experience in ophthalmology and biopharma, with a strong track record of success in scaling companies, building pipelines, and delivering value. His appointment, alongside the Series C raise, marks a pivotal step as PolyActiva expands its U.S. presence to drive long-term success.”
Recent results from a Phase 2a study showed that PA5108 delivered clinically relevant reductions in IOP for 6 months from a single implant. A subset of patients who received a second implant at 21 weeks demonstrated clinically relevant reductions in IOP for at least 48 weeks. The implant was well tolerated by patients in this study. The study also demonstrated that PA5108 could be repeat-dosed after the initial 21 weeks of therapy, with no negative impact on corneal endothelial cells, providing the opportunity for long-term chronic therapy. The Phase 2b study evaluating the dose, safety, and efficacy of PA5108 in a larger patient population is expected to begin in Q3 of 2025 at clinical sites across the US. In addition to advancing PA5108, the financing will also support the continued development of PolyActiva’s broader pipeline and exploration of new therapeutic opportunities enabled by its proprietary Prezia drug delivery platform, according to PolyActiva.
“I’m honored to join PolyActiva at such an important point in the company’s evolution,” said Mr. St. Peter. “The opportunity to lead a team with such deep technical expertise and a clear, patient-focused mission is incredibly energizing. PA5108 and the Prezia platform offer tremendous promise in improving how we treat serious eye diseases. I look forward to building on the foundation the team in Australia has created, expanding our footprint in the U.S., and delivering transformative therapies to patients around the world.”