VisiRose Secures $3 Million for Ocular Therapy Advancements
VisiRose, a privately-held, clinical-stage biotechnology company, has secured a $3 million seed financing round to advance its lead ocular therapies for corneal diseases and other severe ocular conditions. This funding will be directed towards several key initiatives aimed at progressing the company’s investigational programs.
The primary focus of this financing round is to support the development of VisiRose’s Rose Bengal Photodynamic Antimicrobial Therapy (RB PDAT), a groundbreaking, non-invasive treatment for infectious keratitis and other serious eye infections. The funds will facilitate a pre-investigational new drug (IND) submission meeting with the U.S. Food and Drug Administration (FDA) for RB PDAT. Additionally, VisiRose plans to submit an IND application for PV-305, a therapy targeting corneal blindness through photodynamic therapy.
The company is leveraging the innovative ocular research from the University of Miami’s Bascom Palmer Eye Institute and Ophthalmic Biophysics Center, in collaboration with Provectus Biopharmaceuticals. At the heart of VisiRose’s therapeutic platform is Provectus’s bioactive synthetic small molecule, Rose Bengal Sodium (RBS), designed to treat a range of sight-threatening ocular conditions with high unmet medical needs.
The proceeds from this financing round will also support the manufacturing of an initial clinical supply of PV-305, enabling VisiRose to initiate clinical trials and move closer to regulatory approval. This funding is crucial for advancing the company’s drug pipeline and ultimately providing patients with innovative therapies for corneal diseases and other severe ocular conditions.
VisiRose is a newly launched entity, majority-owned by Provectus Biopharmaceuticals, with a focus on commercializing the ocular research of the Bascom Palmer Eye Institute. The company’s board of directors includes Ed Pershing, chairman of Provectus’s and VisiRose’s boards, and also chief executive officer of Provectus, along with other key members from Provectus’s management team.
The $3 million seed financing round is a significant milestone for VisiRose, demonstrating the company’s commitment to advancing its ocular therapies and addressing the critical need for effective treatments for severe eye infections and corneal diseases. With this funding, VisiRose is poised to make significant strides in the development of its lead investigational programs and move closer to providing transformative therapies for patients suffering from these debilitating conditions.
The collaboration between VisiRose, the University of Miami’s Bascom Palmer Eye Institute, and Provectus Biopharmaceuticals underscores the company’s dedication to leveraging cutting-edge research to develop innovative ocular therapies. By focusing on the development of RB PDAT and PV-305, VisiRose aims to address the high unmet medical needs in the field of ophthalmology and provide patients with new hope for treating severe eye infections and corneal diseases.
Overall, the $3 million seed financing round is a critical step forward for VisiRose, enabling the company to advance its investigational programs and move closer to regulatory approval for its lead ocular therapies. With its focus on innovative ocular research and collaboration with leading institutions, VisiRose is well-positioned to make a significant impact in the field of ophthalmology.
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