OccuRx, a Melbourne, Victoria, Australia-based biopharmaceutical company, was launched today with up to AU$6.5M in staged tranches of venture capital funding.
A consortium including the Medical Research Commercialisation Fund (MRCF), Brandon Capital Partners and Uniseed made the investment.
Led by Dr Darren Kelly, CEO, OccuRx is developing a new class of drugs to prevent a significant health burden associated with fibrosis. It has already established preclinical proof of concept with its lead anti-fibrotic compound in an animal model of ocular inflammation and fibrosis.
The company intends to use the funds to continue to develop its compound.