RevOpsis Secures $16.5 Million Seed Funding to Advance First-in-Class Tri-Specific Therapy for Wet AMD Treatment
RevOpsis Therapeutics announced it has successfully closed its first seed funding round, raising $16.5 million 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 wet age-related macular degeneration (AMD). 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.
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 wet AMD, according to RevOpsis.
RevOpsis said the financing 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."