Visiox Pharma, LLC, a privately-funded U.S. biopharmaceutical company focused on the development and commercialization of ophthalmic drugs to address highly prevalent diseases in need of new treatment options, has announced the closing of a $7 million seed round of financing.
The raise was funded by the Founding Partners and a group of ophthalmic industry leaders. The proceeds enable Visiox to finalize and submit the NDAs for its lead assets, manufacture initial inventory, and add key talent as the company expands its commercial team. Visiox is also evaluating business development opportunities to add to its pipeline.
“The early positive response from the ophthalmic and optometric sectors further validates the physician and patient unmet needs that Visiox intends to serve in bringing its products to market,” said Ryan Bleeks, CEO.
“We are enthusiastic about the high degree of interest in the direction we are headed.”
Visiox is a privately funded biopharmaceutical company focused on the development and commercialization of ophthalmic therapeutic candidates to address highly prevalent diseases in need of new treatment options.
Visiox plans to submit two new drug applications to the U.S. FDA later this year in the glaucoma and cataract surgery markets. Its lead candidate, PDP-716, is a novel once daily brimonidine formulation utilizing the company’s TearAct delivery technology, which provides slow, consistent, and sustained release for IOP control throughout the day.
Glaucoma affects 53 million people worldwide and is expected to reach 80 million by 2040.
SDN-037 is a twice daily topical difluprednate corticosteroid utilizing TJM (tight junction modulation) micellar platform. The novel technology provides post-surgical control of inflammation in a clear solution enabling convenient dosing with a proven active ingredient.
Cataract extraction is the most frequently performed eye surgery in the U.S. It accounts for 70% of all ocular surgeries. Around 50 million people are projected to have cataracts in the U.S. by 2050.