PanOptica Closes Up To $45M in Series B Funding

PanOptica_LogoPanOptica, a Bernardsville, NJ-based biopharmaceutical company focused on ophthalmology therapies, closed up to $45m in Series B funding.

The round was led by Novo Ventures and Third Rock Ventures with participation from SV Life Sciences.

The company intends to use the funds to advance the clinical program for its lead compound, PAN-90806, a pharmacologically small-molecule selective inhibitor of VEGF (vascular endothelial growth factor) signaling being investigated as a topical (eye drop) treatment for neovascular age-related macular degeneration (neovascular AMD).

Co-founded by Paul Chaney, past president of OSI Eyetech, and Martin Wax, M.D., former vice president of R&D and head of discovery research and preclinical sciences at Alcon, PanOptica has identified and evaluated more than 200 biopharmaceutical assets with the goal of licensing and developing a portfolio of exciting and innovative therapeutics for major ophthalmic disease. In early 2011, the company raised up to $30m in Series A financing, led by SV Life Sciences and Third Rock Ventures.



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