search
Front > News

Farsighted treatment co Orasis Pharmaceuticals raises $13m

medical research photo: Shutterstock
medical research photo: Shutterstock
6 Jun, 2018 14:38
שלח תגובה במיילGlobes correspondent

The funds will be used to advance the Israeli company's eye drop being for the treatment of presbyopia symptoms.

Israeli eye treatment developer Orasis Pharmaceuticals has announced the closing of a $13 million Series B financing round. The financing was led by the ophthalmology-focused venture capital fund Visionary Ventures, with participation from Sequoia Capital, SBI (Japan) Innovation Ventures, LifeSci Venture Partners, and other private investors. Jeffry Weinhuff, managing partner of Visionary Ventures and Masafuyu Tanaka, president of SBI (Japan) Innovation Ventures, will join the Orasis Board of Directors in conjunction with the financing.

Based in Herzliya, Orasis Pharmaceuticals is a privately-held, clinical-stage pharmaceutical company focused on developing an innovative eye drop for the treatment of presbyopia (far sightedness) symptoms. Proceeds from the financing will be used to advance Orasis’s lead product candidate, CSF-1, an eye drop being developed for the treatment of presbyopia symptoms, through completion of its Phase IIb clinical trial. The proceeds will also be used for preparation of the Phase III trial and to continue pre-commercial activities ahead of the potential launch of CSF-1.

Orasis CEO Elad Kedar said, “The recent Series B funding is a significant milestone for Orasis, which will allow us to advance the clinical development of CSF-1, an eye drop with the potential to eliminate the need for reading glasses in patients with presbyopia, a condition with substantial market opportunities and a significant unmet need. The recent investment led by Visionary Ventures, a top life science investment fund exclusively focused on ophthalmology, provides strong validation of our vision and approach.”

Visionary Ventures managing partner Jeffry Weinhuff said, “There are almost two billion people in the world affected with presbyopia and there is a significant need for new, noninvasive treatment options. We look forward to continuing working with the company’s management team to advance CSF-1’s clinical development.”

Published by Globes [online], Israel business news - www.globes-online.com - on June 6, 2018

© Copyright of Globes Publisher Itonut (1983) Ltd. 2018

medical research photo: Shutterstock
medical research photo: Shutterstock
Yitzhak Tshuva credit: Gidon Levy and Tali Bogdanovsky Competition Authority allows Delek takeover of Isracard

The Competition Authority is considered the easier of the two regulatory hurdles that the deal must overcome, the other being the Supervisor of Banks.

David Amsalem credit Noam Moskowitz, Knesset Spokesperson's Office Rafael to pay state NIS 444m dividend

The minister in charge of the Government Companies Authority, David Amsalem, has approved the payment by the defense company.

Barak MX air defense system credit: IAI IAI profit jumps 55%

Israel Aerospace Industries posted a net profit of $493 million for 2024, and ended the year with an all-time high orders backlog of $25 billion.

A TSG system in tactical use credit: PR TSG signs cooperation agreement with US defense co

The agreement includes the integration of TSG's advanced technologies into sensor-based defense systems, which will be integrated into the operational systems of US defense units.

Bria CEO Yair Adato credit: Kseniia Poliak Israeli visual generative AI co Bria raises $40m

Bria’s Visual Generative AI platform empowers businesses to create predictable, controllable, and on-brand content that aligns with their visual language.

Amnon Shashua and Aviram Ziv credit: Eyal Izhar OrCam stymied by investor dispute with Shashua

Demands by institutional investors are blocking the visual and hearing impairment device developer's recovery plan.

Work on the Green Line credit: Bar Lavi Egged wins tender to operate TA light rail Purple, Green Lines

NTA awarded the tender to Egged, which already operates the Red Line, despite government ministry opposition to one operator for the entire network.

Gabi Seroussi illustration: Gil Gibli Board chooses Seroussi as IAI chair as Erdan freezes candidacy

Israel Aerospace Industries board chose Gabi Seroussi as chair even though he did not to go through the preliminary process of the Government Companies Authority appointments review committee.

Bavli Park penthouse credit: Eyal Tagar Tel Aviv Park Bavli penthouse sells for NIS 43m

A 44th floor penthouse in one of the two towers in businessman Yitzhak Tshuva's Park Bavli project has been bought by an Israeli businessperson.

El Al aircraft credit: Yoav Yaari El Al pilots receive nearly NIS 250,000 bonus each

Thanks to the agreements signed with the unions in 2018, El Al's employees as well as senior management share in last year's success.

Pentera CEO Amitai Ratzon credit: Eyal Izhar Israeli security validation co Pentera raises $60m

Pentera's platform enables security teams to analyze complete attack paths, identify root causes, and prioritize remediation for effective risk reduction.

Tel Aviv credit: Shutterstock Supply of unsold new homes hits record

Israel's real estate market is sliding into recession with 78,000 unsold new apartments in January, the Central Bureau of Statistics reports.

D&B chairman Doron Cohen and Meitar partner Dan Geva Meitar reclaims title of Israel's biggest law firm

Meitar has first place with 537 lawyers, followed by Herzog Fox Neeman with 512 lawyers, according to the latest Dun's 100 rankings.

First International Bank of Israel CEO Eli Cohen credit: Eyal Toueg First Int'l posts top return on equity

First International Bank of Israel's return on equity in 2024 was 19%, the highest among Israel's banks.

Dina Ben Tal Ganancia credit: Guy Kushi & Yariv Fein El Al almost quintuples profit

The airline posted a net profit of $545 million for 2024, 4.7 times the profit in 2023, and an all-time high.

Gev Hadari credit: Nati Hortig Sompo Israel appoints Gev Hadari as cybersecurity head

Hadari's expertise spans penetration testing, including Red Team operations, web applications, mobile applications, OT/IOT products, and both external and internal assessments.

Twitter Facebook Linkedin RSS Newsletters גלובס Israel Business Conference 2018