TheiaNova Selected as Finalist at Eyecelerator for Keratoconus Therapy; Launches Capital Raise for Clinical Trials
New Zealand-based TheiaNova has delivered the company’s pitch as a finalist in the renowned Eyecelerator event in Boston. At the Eyecelerator event, where TheiaNova participated as a finalist, CEO Carissa Fonseca announced the company’s efforts to raise $10 million for the company’s phase 1 and 2 clinical trials, following data from a proof-of-concept study in New Zealand anticipated later this year.
“There are millions of people in the world living with keratoconus, an incurable condition which can lead to blindness. Our vision is that this treatment will give people living with keratoconus hope by providing a noninvasive, simple eye-drop solution to what has traditionally been a difficult-to-treat disease,” Me. Fonseca said in a company news release.
TheiaNova is developing a painless and noninvasive treatment requiring the patient to take two doses of eye drops daily for a 3-week period, in which time the treatment is expected to regenerate lost collagen in the eye, restoring the cornea’s rigidity.
Scientist Professor Colin Green, who co-founded five biotechnology companies and is an inventor on over 465 patents in 24 patent classes, led the group which spearheaded the development of the treatment at the University of Auckland in New Zealand.
“TheiaNova’s unique approach rebuilds the cornea rather than simply attempting to retain already reduced collagen levels. It combines a human growth factor with a low dose of a steroid already approved for ocular use to trigger developmental pathways which induce cells in the cornea to temporarily change their behavior and secrete new collagen,” said Prof. Green. “This is a world first approach to rebuild the cornea’s structural integrity and to halt disease progression, whilst providing an innovative opportunity to correct lost vision in a predictable manner."
Ms. Fonseca said the combination of these two compounds in animal trials has been found to regenerate collagen and restore corneal rigidity.
“We’re exploring how our treatment could be used beyond keratoconus treatment, including post-refractive surgery ectasia, and other similar corneal disorders which also have serious impact on patients,” she said.
Seed funding was provided from Bridgewest Ventures New Zealand, Auckland UniServices, and Callaghan Innovation’s technology incubator program.
The capital raised will also go toward protecting new IP and defining TheiaNova’s reimbursement and market access strategies. The company holds patents in multiple markets, including the United States, Australia, and New Zealand.