Elad Kedar discuss the Presbyopia Market and the closing of the recent Series C round with Endpoints News.
Orasis Pharmaceuticals, an emerging ophthalmic pharmaceutical company focused on developing an innovative pharmaceutical solution for the treatment of presbyopia symptoms, today announced the closing of a $30 million Series C financing. The financing was co-led by new investor Bluestem Capital and returning investor Visionary Ventures, with participation from other returning investors Sequoia Capital, SBI (Japan) Innovation Fund, Maverick Ventures, LifeSci Venture Partners and additional investors.
Elad Kedar, CEO of Orasis Pharmaceuticals shares his strategy for successfully completing a Phase 2b clinical study in preparation of their phase 3 of CSF-1 drops for temporary correction of presbyopia. Jeffry Weinhuff from Visionary Ventures joins the conversation as Chairman of the Board to explain how he evaluated the Orasis technology and what VCs look for.
Eye Drops Proven To Reverse Vision Loss In Clinical Trial
Orasis Pharmaceuticals announced its CSF-1 eye drop has successfully met the primary endpoint in a phase 2b clinical study in individuals with presbyopia. CSF-1 successfully demonstrated statistically significant improvement in distance-corrected near visual acuity of a 3-line or greater gain. In addition, CSF-1 demonstrated an exceptional safety and tolerability profile.
“We are excited to initiate the Phase 2b clinical trial evaluating our corrective eye drop as it marks a key milestone in its clinical development,” said Elad Kedar, chief executive officer of Orasis. “CSF-1 has the potential to restore near-vison and offer an alternative to current treatment options, which are either cumbersome or invasive. We look forward to sharing the results from this study in the near future as we advance the development of CSF-1 in the clinic for the treatment of presbyopia, a condition that affects more than 1.8 billion people worldwide.”
The Phase 2b study (NCT03885011) is a multi-center, double-masked trial in the U.S. enrolling 150 participants with presbyopia to evaluate the efficacy and safety of CSF-1. The study started enrolling patients in February 2019. All study sites are actively recruiting participants aged 45 to 64 with presbyopia.
Orasis announces the Appointment of Jeffry Weinhuff as Chairman of the Board of Directors.
Elad Kedar discusses the presbyopia market and the Orasis product.
Orasis Pharmaceuticals completes $13MM Series B financing led by Visionary Ventures, with participation from Sequoia Capital, SBI (Japan) Innovation Ventures, LifeSci Venture Partners, and other private investors