Business Wire

Re-Vana Therapeutics Raises $3.25 Million in Pre-Series A Financing

Share

Re-Vana Therapeutics Ltd, a privately-held specialty therapeutic and drug delivery company developing sustained-release therapeutics for significant sight-threatening ocular diseases, today announced that it has closed $3.25 million in pre-series A financing. The pre-series A round was oversubscribed by more than $1 million and closed in two tranches. The first tranche of $2.08 million was led by ExSight Ventures, with participation from InFocus Capital Partners and existing U.K. investors, including TechStart Ventures, Clarendon Fund Managers and Qubis Ltd. Visionary Ventures led the second closing round of $1.17 million, with additional investment from existing investors.

With the second closing, Re-Vana became the first company in which all three specialized U.S. ophthalmic funds have invested in the same company. The proceeds will advance proof-of-concept development for Re-Vana’s proprietary photocrosslinked EyeLief™ and OcuLief™ biodegradable technologies for the delivery of biologic and small molecule therapeutics, as well as enable expansion of the company’s research and development team. To date, Re-Vana has achieved at least 4 months sustained release of an anti-VEGF drug with greater than 50% drug loading in its implants.

In conjunction with this financing, Re-Vana’s board of directors and scientific advisory teams have been further enhanced. The board of directors has been strengthened by the appointment of Garrett Hamontree of Visionary Ventures and James Murray of ExSight Ventures, as well as board observers Robert Avery, MD, of Visionary Ventures and Ron Weiss, MD, of InFocus Capital Partners. Dr. Avery of Visionary Ventures will join Firas Rahhal, MD, and Michael Nissen, MD, both of ExSight Ventures, on Re-Vana’s scientific advisory board.

“Financing from new and existing investors during this challenging time is a testament to the potential of Re-Vana’s technologies for sustained delivery of both biologic and small molecule therapeutics,” said Michael O’Rourke, President and Chief Executive Officer, Re-Vana Therapeutics. “We are especially fortunate to have three highly respected, U.S. ophthalmic-focused investors join our board. Their proven knowledge and expertise in ophthalmology will be an invaluable addition to Re-Vana as we initiate preclinical development and expand our strategic partnerships.”

Re-Vana is a technology spin-out from Queen’s University Belfast, Northern Ireland. The company is developing sustained release ophthalmic therapeutics that can reduce the frequency of intravitreal injections required to treat a wide range of retinal diseases, including neovascular age-related macular degeneration. The Re-Vana platform has the potential to deliver at least 4 to 6 months sustained delivery of a large molecule biologic, including anti-VEGF therapies. Re-Vana’s technology could spur a new generation of glaucoma medications that may reduce or eliminate the need for eye drops by delivering small molecules for 6 to 9 months or longer. In addition, Re-Vana's technology may enable the development of a new class of therapeutic products built on the company’s proprietary photocrosslinked sustained-release technology. Re-Vana has also secured the rights to a novel nanoparticle polymer-based drug delivery technology for ophthalmic applications.

About Re-Vana Therapeutics

Re-Vana Therapeutics Ltd, founded in 2016 as a spin-out from Queen’s University Belfast, Northern Ireland, is a specialty ocular therapeutic and drug delivery Company with the main office located in Belfast and a U.S. office, Re-Vana Therapeutics, Inc., based in Tampa, Florida. Re-Vana is focused on the development of internal therapeutics as well as external strategic collaborations with industry. In 2019, Re-Vana also secured funding from Innovate U.K. totaling more than $400K to support the development of a sustained release drug. Additionally in 2020, the Company entered into a strategic feasibility collaboration with a leading global pharmaceutical company for a novel therapeutic. For more information, visit www.revanatx.com.

EyeLief™ and OcuLief™ are trademarks of Re-Vana Therapeutics Ltd.

About ExSight Ventures

ExSight Ventures invests in early-stage companies with innovative and impactful ophthalmic diagnostic and treatment solutions. The firm consists of two accomplished retinal surgeons and a team of investment professionals that have partnered to address the need for funding early-stage ophthalmic focused companies. The firm seeks investments in biotechnology, medical devices, pharmaceuticals, and software solutions in ophthalmology. www.exsightventures.com

About Visionary Ventures

Visionary Ventures is a leading venture capital fund investing in drugs and devices for the eye. The firm has over 75 Key Opinion Leader Ophthalmologist/OD investors/advisors who provide unique insight into the best opportunities for the eye. By building a team of specialists, professionals, and industry leaders at the forefront of the process, Visionary is able to leverage a unique advantage to our venture investments. The firm typically invests in later stages of a company's growth but will invest in pre-clinical opportunities, like Re-Vana, with exceptional potential. Visionary is investing out of its second fund. www.visionaryvc.com

About InFocus Capital

InFocus Capital Partners is a venture capital firm focused on investing in innovative technologies in the ophthalmology market. The investment managers are uniquely positioned to source, understand, and evaluate ophthalmic investments due to their medical expertise, professional business development, and investment experience. InFocus founders are practicing physicians with deep venture experience, knowledge, and professional access. For more information, visit www.infocuscapitalpartners.com.

Contact information

Media Contact:
Michele Gray
Gray Communications, LLC.
michele_gray@me.com
+1 917 449 9250

About Business Wire

Business Wire
Business Wire



Subscribe to releases from Business Wire

Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from Business Wire

VR Fitness Developer FitXR Secures $7.5 Million In Series A Venture Round Led by Hiro Capital10.7.2020 08:00:00 CESTPress release

FitXR, the leading VR fitness company, today announces that it has secured $6.3m in investment funding, led by Hiro Capital, with continued support from U.S.-based BoostVC, Maveron and TenOneTen Ventures, together with an additional $1.2m in the form of an innovation loan, from Innovate UK. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005856/en/ Cherry Freeman, Co-Founding Partner, Hiro Capital (Photo: Business Wire) FitXR, who had previously secured $1.25 million in seed funding from investors, will use the new investment to expand its operations in Europe and North America, and to accelerate launch of several exciting new products and services for people to keep fit in Virtual Reality. The investment marks a significant show of belief in FitXR, who over the last year has grown to become one of the leaders of the VR fitness sector, with its mission to put the fun back into fitness. Its first product, the boxing rhyt

Laboratory Studies Confirm BETADINE® Antiseptic Products’ Effectiveness Against COVID-19 Virus10.7.2020 00:37:00 CESTPress release

Mundipharma today announced that laboratory testing at the Duke-NUS Medical School in Singapore, has confirmed the effectiveness of its BETADINE® antiseptic products against the novel coronavirus (SARS-CoV-2) which causes COVID-19 disease. Testing has demonstrated BETADINE’s® strong in-vitro virucidal activity, killing 99.99% of the SARS-CoV-2 virus in 30 seconds. The products subjected to testing were: BETADINE® antiseptic products, namely Solution (10% PVP-I), Skin Cleanser (7.5% PVP-I), Gargle and Mouthwash (1.0% PVP-I) and Throat Spray (0.45% PVP-I). The research has been published in the respected Infectious Disease and Therapy Journal on 08 July 2020. “These results confirm our view that BETADINE® antiseptic products, used appropriately and in conjunction with other preventative treatment options including PPE, can play a role in limiting the spread of infections, including COVID-19,” said Raman Singh, CEO Mundipharma. “It also provides the medical community as well as consumers

New Evidence Shows Morinaga Milk’s Probiotic Bifidobacterium breve A1 Improves Memory of Older Adults With Cognitive Dysfunction9.7.2020 20:00:00 CESTPress release

Morinaga Milk Industry Co., Ltd. (TOKYO:2264), a leading Japanese dairy product company and a key global probiotics manufacturer, confirmed that its proprietary probiotic strain Bifidobacterium breve A1 (a.k.a. B. breve MCC1274) is safe and effective for improving memory functions of older adults with suspected mild cognitive impairment (MCI) in a randomized, double-blind, placebo-controlled trial (RCT). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005032/en/ Figure 1. Changes of RBANS scores at 16 weeks from baseline. Values are indicated as mean with error bars as the standard error. **p<0.001, ***p<0.0001, inter-group difference, Student’s t-test. (Graphic: Business Wire) The new study, published recently in the Journal of Alzheimer’s Disease, has produced breakthrough results uncovering a novel promising probiotic intervention for early dementia prevention. The clinical study conducted by a clinical research orga

rf IDEAS and Ricoh Simplify Secure Access to Multifunction Printers9.7.2020 18:05:00 CESTPress release

rf IDEAS, a leading manufacturer of credential readers for authentication and logical access, today announced with Ricoh the integration of its WAVE ID® Plus dual-frequency card reader technology with Ricoh’s Smart Operation Panel (SOP), Gen 2.5. The new WAVE ID Ricoh Universal SOP Reader is the most innovative reader for secure pull-print applications with Ricoh multifunction printers. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005764/en/ WAVE ID® Ricoh Universal SOP Reader (Photo: Business Wire) rf IDEAS and Ricoh have a proven record of working together to deliver secure workplace solutions that feature the most advanced identification and authentication capabilities. “As we continue our worldwide partnership with a leader in the print industry, we are delighted that Ricoh chose rf IDEAS to develop an innovative credential reader design that connects to its A3 multifunction devices,” said Tod Besse, senior vice

Immersive Labs Adds Tenable Co-Founder and Security Industry Veteran Jack Huffard to its Board of Directors as Demand for Improving and Measuring Cyber Talent Grows9.7.2020 17:46:00 CESTPress release

Immersive Labs, the company empowering organizations to equip, exercise, and evidence human cyber capabilities, announced Jack Huffard, a co-founder and board member of Tenable (Nasdaq: TENB) will join its board of directors to help drive growth. This comes on the heels of Immersive Labs’ recent expansion into the U.S. market, backed by Goldman Sachs and Summit Partners with $50M in financing, after four successful years of fast-growth and an impressive customer roster in the UK and the U.S. With the addition of Huffard to the board, a cybersecurity industry business leader who helped Tenable through its fast growth and successful IPO, the Immersive Labs team is well-suited for its next phase of innovation and market leadership. Huffard also currently serves as a board director for Norfolk Southern Corporation (NYSE: NSC) and is a member of the National Security Telecommunications Advisory Committee (NSTAC), helping the US government navigate pressing national security issues and stren

Jonckers Announces New CEO9.7.2020 17:08:00 CESTPress release

Jonckers, a global leader in language platform technology and multilingual solutions, today announced that its Board of Directors has appointed Silke Zschweigert as Chief Executive Officer, effective immediately. Zschweigert previously held the position of Chief Revenue Officer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005715/en/ Silke Zschweigert Newly appointed CEO of Jonckers - a global leader in language platform technology and multilingual solutions (Photo: Business Wire) “I’m very privileged to be asked by the Board to be the next CEO of this dynamic and forward-thinking company,” said Zschweigert. “The company transitioned from being a pure language service provider to an AI-driven Language Platform with a multilingual community. I look forward to scaling this capability and further developing advanced solutions creating significant value for Enterprises going global.” Zschweigert succeeds Geo Janssens who

In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.

Visit our pressroom