Tisbury Pharmaceuticals, Inc., a Boston, MA-based pharmaceutical company focused on the discovery and development of therapeutics for the treatment of glaucoma, secured $32m Series A funding.
The round was led by OrbiMed Israel, Clarus, and HealthCap with participation from Pontifax. Concurrent with the financing, Marten Steen, MD, PhD, a Partner at HealthCap, will join Tisbury’s Board of Directors along with Nissim Darvish, MD, PhD, Senior Managing Director at OrbiMed Israel and Emmett Cunningham, Jr, MD, PhD, MPH, Managing Director at Clarus.
Brian Levy, OD, MSc, former Chief Medical Officer at both Bausch & Lomb and Aerie Pharmaceuticals, will serve as an independent director.
The company intends to use the funds to initiate a clinical program for its proprietary glaucoma compound, R-801.
Founded by Andrew L. Salzman, MD, Chairman, and led by newly appointed CEO Gary Sternberg, MD, MBA, former Chief Business Officer of Eleven Biotherapeutics, who will lead the clinical development out of the Boston office, Tisbury Pharmaceuticals, is a pharmaceutical company focused on the discovery, development, and commercialization of therapies to treat glaucoma. The company’s lead clinical candidate, R-801, markedly decreases intraocular pressure by increasing intraocular fluid egress through the trabecular meshwork.
Tisbury Pharmaceuticals spun out from Radikal Therapeutics Inc., a multi-national biotechnology firm focused on the discovery and development of transformative pharmaceuticals.