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

EasyCOV, the Virological Saliva Test for COVID19 Confirms Its Excellent Results: a Sensitivity of 88% and a Specificity of 99% in 40 Min1.10.2020 18:23:00 CESTPress release

EasyCOV, a virological saliva detection test for COVID19, has shown a sensitivity of 88% and a specificity 99% during a clinical trial performed at the testing center operated by the teaching hospital of Montpellier. The test relies on an optimized thermal protocol that provides the results in 40 minutes. EasyCOV, developed by SkillCell in collaboration with the CNRS (French National Center for Scientific Research), is a saliva test that can be run in the field and that provides results in the form of a change of color in no more than 40 minutes. Performed by a healthcare professional, the test requires the collection of 200 microliters of saliva, approximately 4 drops, from under the patient’s tongue. The sample is heated successively in two tubes using the nomadic heating device EasyVID (developed and produced by TRONICO, sister company of SkillCell). A test turning bright yellow indicates that the virus has been detected while an orange test is negative. A double-blind clinical tria

Ascend Performance Materials Announces Global Price Increase for All Vydyne® Brand Polymers, Fibers and Compounds1.10.2020 16:00:00 CESTPress release

Ascend Performance Materials announced today a global price increase for all of its Vydyne® polymers, fibers and compounds. The price increase takes effect October 15, 2020, and includes the following price changes: Materials Geography Price Increases Terms Vydyne® (PA 66) polymers, fibers and compounds North America $220/MT As contracts allow Non-contract business – price determined on an order-by-order basis Vydyne® (PA 66) polymers, fibers and compounds Asia $300/MT As contracts allow Non-contract business – price determined on an order-by-order basis Vydyne® (PA 66) polymers, fibers and compounds Europe €200/MT As contracts allow Non-contract business – price determined on an order-by-order basis Customers should contact their local sales representative for additional information. About Ascend Performance Materials Ascend Performance Materials makes high-performance materials for everyday essentials and new technologies. Our focus is on improving quality of life and inspiring a bet

Andersen Global Adds SAGIS LP in Anguilla to Its Caribbean Platform1.10.2020 15:30:00 CESTPress release

Andersen Global bolsters its Caribbean platform through a Collaboration Agreement with full-service law firm SAGIS LP in Anguilla. In a span of three months, Andersen Global has significantly expanded its footprint throughout the region and will focus on providing additional coverage over the course of the next 18 to 24 months. Established in 2018 by four Partners, SAGIS LP provides its clients with a variety of legal services, including corporate, commercial, banking and finance, intellectual property and real estate. Additionally, the Firm’s team of lawyers are widely recognized within Chambers Global and World Trademark Review. Partner Kenneth G. Porter said, “We have been focused on delivering quality client solutions through our strategic thinking and have an in-depth understanding of our clients’ unique legal needs. Collaborating with Andersen Global positions us to meet our goal of expanding and providing more robust services, while being the firm of choice in Anguilla for local

Shionogi Announces Publication of a New Systematic Review in CHEST Highlighting the Importance of Early, Appropriate Therapy to Improve Meaningful Outcomes Like Mortality in Patients With Severe Bacterial Infections1.10.2020 15:14:00 CESTPress release

Shionogi B.V., the European subsidiary of Shionogi & Co., Ltd. (Head Office: Osaka, Japan; President & CEO: Isao Teshirogi, Ph.D.; hereafter "Shionogi") today announce the publication of a new systematic review in CHEST Journal, funded by Shionogi B.V, examining the effect of delayed appropriate antibiotic therapy on the outcomes of patients with severe bacterial infections.1 The review was carried out to characterise the impact of time to effective therapy for antimicrobials and guide treatment decisions to optimise prompt appropriate antibiotic therapy for patients most at risk. The study found that mortality was significantly lower in patients receiving appropriate therapy without delay compared with those experiencing delay.1 Severe bacterial infections requiring in-hospital treatment are associated with considerable mortality, morbidity and healthcare costs. Physicians must often initiate antibiotic therapy before the pathogen causing the infection and its drug-resistance profile

PTR Robots Introduces World’s First Mobile Lifting Robot That Both Transfers and Rehabilitates Patients1.10.2020 15:02:00 CESTPress release

PTR Robots, a Danish service-robot company, announced the world premiere of its robot that can mobilize and transfer patients. Jointly developed with healthcare professionals, the PTR Robot is the first mobile, intelligent robot solution that can flexibly move around in the healthcare and nursing sectors. While it helps individuals with impaired functions to be transferred and rehabilitated, it also relieves the strain on staff, redirecting them from labor-intensive tasks. A PTR Robot also reduces the risk of infection, because only one caregiver needs to be present to perform a patient transfer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201001005084/en/ PTR Robots was developed and tested in close collaboration with Zealand University Hospital, and Vonsildhave Nursing Home, operated by the nursing group Attendo. “The testing of PTR Robots really impressed us. We can see interesting perspectives in the way we can assist

Fastly Completes Acquisition of Signal Sciences1.10.2020 15:00:00 CESTPress release

Fastly, Inc. (NYSE: FSLY), provider of an edge cloud platform, today announced it has successfully completed the acquisition of Signal Sciences (“Signal Sciences”). The transaction combines Signal Sciences’ powerful web application and API security solutions with Fastly’s edge cloud platform and existing security offerings to form a unified suite of modern security tools. This robust new security portfolio, designed for the way developers work, unlocks innovation at the edge and removes silos between developers, operations, and security teams to shorten development cycles and protect websites and web applications alike. “We are excited to close this transaction and welcome the talented team at Signal Sciences to Fastly,” said Joshua Bixby, Chief Executive Officer of Fastly. “Our companies are similarly focused on giving developers more control and visibility by designing offerings that embrace modern DevOps practices. Together with Signal Sciences, we will deliver a web application and

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