Orasis Pharmaceuticals Concludes Phase 3 Clinical Trials for Presbyopia Candidate
Study enrollment complete for NEAR-1 and NEAR-2 Phase 3 Clinical Trials
HERZLIYA, Israel, March 15, 2022 /PRNewswire/ — Orasis Pharmaceuticals, an emerging ophthalmic pharmaceutical company focused on developing a unique eye drop to improve near vision for people with presbyopia, today announced the completion of its NEAR-1 and NEAR-2 Phase 3 clinical studies.
“Orasis is committed to reshaping vision possibilities by developing a presbyopia eye drop with the patient in mind,” said Elad Kedar, Chief Executive Officer of Orasis. “Completion of this clinical trial milestone is exciting because it puts Orasis in position to be next in market. We look forward to sharing topline results in the coming months and advancing CSF-1 toward commercialization.”
Presbyopia is the loss of ability to focus on near objects as a result of the natural aging process. It occurs mostly after the age of 40 when the crystalline lens of the eye gradually stiffens and loses flexibility. There are almost two billion people globally and more than 120 million people in the U.S. living with presbyopia. People with presbyopia experience blurred vision when performing daily tasks that require near visual acuity, such as reading a book, a restaurant menu, or messages on a smartphone. Presbyopia cannot be prevented or reversed, and it continues to progress gradually. Many existing treatment options can be either cumbersome or invasive, presenting a significant unmet need for quality of life improvement for people with presbyopia.
About Orasis Pharmaceuticals
Orasis Pharmaceuticals is developing CSF-1, a corrective eye drop for the treatment of presbyopia as an alternative to reading glasses. By repurposing existing and well-studied molecules, CSF-1 is designed to be effective, safe, comfortable, and easy-to-use. Orasis is led by a collaborative team of industry executives and eye care specialists with a broad range of experiences in research, development, and commercialization of pharmaceutical drugs, as well as finance and business development. Orasis is funded by a diverse group of sophisticated and experienced life science and healthcare investors including the ophthalmology focused venture capital fund Visionary Ventures, Sequoia Capital, SBI (Japan) Innovation Fund, Bluestem Capital, LifeSci Venture Partners, Maverick Ventures Israel, and other private investors. Orasis is based in Herzliya, Israel. For more information, visit www.orasis-pharma.com and connect with us on LinkedIn: LinkedIn.