Visus Therapeutics Announces $36 Million Series A Financing to Advance Development of Novel Presbyopia-Correcting Eye Drop

Visus Therapeutics announced the close of a $36 million Series A Preferred Stock financing to advance the clinical development program for the company’s lead asset, Brimochol, an investigational drug designed to be a once-daily eye drop to correct for the loss of near vision associated with presbyopia.

“We are committed to delivering on the promise of introducing a transformative solution to the current treatment landscape for presbyopia,” Ben Bergo, co-founder and chief executive officer of Visus, said in a company news release. “Through our Series A financing and with the support of our seasoned health care investors, Visus is well positioned to rapidly progress our clinical development program for Brimochol.”

Johnson & Johnson Innovation (JJDC, Inc.), RTW Investments LP, and Wille AG participated in the round, with additional participation from the company’s existing shareholders.

“Visus’ experienced leadership team has a successful track record of eye care drug development. This gives us great confidence that the Visus team can develop therapies that will make a life-changing difference for people living with presbyopia,” Tony Nguyen, managing director at RTW Investments, who has been appointed to Visus’ board of directors, said in the news release. “Visus’ highly differentiated therapeutic approah to presbyopia treatment has the potential to be a significant step forward in this emerging category. We look forward to supporting the Visus team as they advance the clinical development program for Brimochol.”

References

1 US Census data, www.census.gov, accessed 7 September, 2019.
2 Market Scope, Global Presbyopia-Correcting Surgery Market Report, April 2012.