Radiance Therapeutics, Inc., a Tucson, AZ-based ophthalmic therapeutic innovation company, raised a $1m first tranche closing of a targeted $7m round of financing.
The investment will be used to fund development of the company’s Beta Ophthalmic System for delivery of beta irradiation therapy to improve glaucoma surgery outcomes.
Radiance Therapeutics is commercializing a clinically demonstrated novel anti-metabolite therapy for glaucoma drainage surgery. Its Beta Ophthalmic System is designed to apply beta therapy to the surgical site to down-regulate fibroblasts that cause scar tissue, keeping the channel open and maintaining reduced intraocular pressure.
Validated in three clinical studies conducted by preeminent ophthalmic research teams, beta therapy has been shown to improve glaucoma surgery outcomes.