Orasis Pharmaceuticals, a Herzliya, Israel-based ophthalmic pharmaceutical company focused on developing an innovative pharmaceutical solution for the treatment of presbyopia symptoms, closed a $30m Series C financing.
The round was co-led by new investor Bluestem Capital and returning investor Visionary Ventures, with participation from other returning investors Sequoia Capital, SBI (Japan) Innovation Ventures, Maverick Ventures Israel, LifeSci Venture Partners and additional investors. Tyler J. Stowater, partner and vice president of Bluestem Capital, will join the Orasis Board of Directors in conjunction with the financing.
The company intends to use the funds to advance its lead eye drop candidate for the treatment of presbyopia symptoms through completion of its Phase 3 clinical trials and for pre-commercialization activities ahead of potential product launch.
Led by Elad Kedar, chief executive officer, Orasis is an ophthalmic pharmaceutical company committed to making near vision clear again for people with presbyopia. Its novel proprietary formulation, designed to achieve an optimal balance between efficacy, safety and comfort, has the potential to position the company as an emerging leader in the presbyopia space.