Visus Therapeutics, Inc., a Seattle, WA- and and Orange County, Calif.,-based based clinical-stage pharmaceutical company focused on developing innovative ophthalmic therapies to improve vision for people around the world, raised $20m in funding.
The round was led by LSP in Amsterdam, with participation from Sage Partners of Hong Kong, Johnson & Johnson Innovation -JJDC, Inc. and other inside investors. In conjunction with this financing, John de Koning, Ph.D., a General Partner at LSP, has joined the Company’s Board of Directors.
The company intends to use the funds to advance its clinical and commercial efforts for lead asset BRIMOCHOL™ under investigation for presbyopia as well as new research and development activities in its drug development pipeline.
Led by Ben Bergo, co-founder and chief executive officer, Visus Therapeutics is asvancing BRIMOCHOL, an investigational drug designed to be a once-daily eye drop to correct for the loss of near vision associated with presbyopia. It is a proprietary formulation that combines two FDA-approved pharmaceuticals: carbachol and brimonidine. BRIMOCHOL has been studied in more than 200 patients across six clinical studies. Topline data from a Phase 2 clinical study evaluating BRIMOCHOL for the treatment of presbyopia are expected in the second half of 2021 and, pending affirmative results, the company plans to immediately initiate pivotal Phase 3 studies.
In parallel, the company is focused on advancing its pipeline of early-stage ophthalmic product candidates.