TelomEYE Pharmaceuticals Corporation, working on a new generation of ophthalmologic therapies, announced today the completion of a successful $1 million post-seed funding round, valuing the company at $10 million USD.
The round was co-led by healthcare mogul Mehmet Ali Aydınlar, Re-Pie Venture Capital Fund, and investment banker Kerim Kotan, along with other angel investors. With this financing, TelomEYE will be able to complete phase I & II human studies for their novel, patented therapy in ophthalmology. This therapy could be the start of a new era for treating many ophthalmologic age-related disorders including presbyopia, cataracts, and macular degeneration.
TelomEYE is a privately held Canadian ophthalmology & biotech company founded in September 2021 by ophthalmologists Iskender Alkin Solmaz MD, Isilay Kavadarli MD and entrepreneur Kubilay Turkmen in Ontario, Canada. The founders had initially self-funded TelomEYE for their novel formulation development, patent applications, and pre-human animal trials.
What if we could read without glasses in our 40s and beyond?
TelomEYE launched to prevent and improve age-related ophthalmologic disorders such as presbyopia, cataracts and macular degeneration, each of which is a major medical need. Presbyopia, a condition which makes it harder for the eyes to focus on close objects after early 40s’, is one of the most common age-related ophthalmologic disorders in the world, with an estimated 2.1 billion sufferers worldwide by 2030 according to the World Health Organisation. It is a fact that everyone over the age of 40s’ faces the need for reading glasses eventually.
TelomEYE treatment has a unique formulation that prevents the cellular aging of the compartments of the eyes and may even rejuvenate them. Starting in our late 30s, daily use of TelomEYE could remove or delay the necessity of reading glasses at later stages of the life. Patients with dry eye syndrome which is a very common health problem may have beneficial effects as well.
Iskender Alkin Solmaz M.D., Co-Founder and Chief Medical Officer of TelomEYE said “Advances in research are revealing new opportunities to translate science into solutions that can help people in preventing age-related ophthalmologic disorders. Neither our scientific platform nor our patented technology has ever been utilized in ophthalmology before. We are fully committed to delivering this therapy, potentially reducing the magnitude of most of the age-related ophthalmologic disorders to make a significant long-term and sustainable impact on lives.”