RevOpsis Therapeutics Secures $16.5M to Advance Wet AMD Treatment
RevOpsis Therapeutics has announced the successful closure of its first seed funding round, securing a total of $16.5 million. This funding is set to advance the development and commercialization of treatments for chronic multifactorial diseases through the company's innovative, fully human multispecific proprietary platform, known as the Rev-Mod Platform.
Funding Aimed at IND Studies and FDA Approval
The funding includes $7.5 million in non-dilutive capital and will be directed towards completing the investigational new drug (IND) enabling studies. These studies are crucial for securing FDA authorization and conducting the first-in-human clinical trials with RevOpsis' leading candidate, RO-104. RO-104 is being developed to treat wet age-related macular degeneration (AMD), a major cause of vision loss.
This seed round will also support the ongoing discovery and development of RevOpsis' pipeline and allow the company to hire key management to drive the organization forward.
RO-104: A Potential Breakthrough in AMD Treatment
RO-104 stands out as a first-in-class modular tri-specific biologic, specifically curated to target all three dominant angiogenic pathways implicated in exudative retinal diseases. It holds promise as the first monotherapy agent to potentially improve visual outcomes and extend disease remission in patients afflicted with wet AMD.
Looking forward, the financing is expected to enable first-in-human studies with RO-104 in 2025.
Dr. Ram Bhandari, interim CEO of RevOpsis, expressed his optimism about the funding's impact: "This seed funding round validates our proprietary Rev-Mod platform and facilitates the development of RevOpsis' next generation multispecific antibody platform to address the unmet needs of patients suffering with sight-threatening diseases," he stated.
"The proceeds will accelerate our ongoing IND efforts for RO-104. Additionally, the funds will be used to strengthen RevOpsis' research capabilities to further develop a pipeline of first and best-in-class retinal treatments. We are grateful for the support of our investors and excited to continue advancing the RevOpsis mission of bringing responsible and affordable therapeutic innovation to patients worldwide."
About Wet AMD
Wet age-related macular degeneration (wet AMD) is a severe form of age-related macular degeneration, a condition that progressively damages the macula, the part of the eye responsible for sharp, central vision needed for activities like reading and driving. In wet AMD, abnormal blood vessels grow under the retina and leak blood and fluid, causing rapid and severe vision loss if untreated. This leakage leads to swelling and damage in the macula, which can result in distorted vision and blind spots in the central visual field. The exact cause of wet AMD is not fully understood, but it involves a complex interplay of genetic and environmental factors.
