Envisia Therapeutics Secures $16.5 Million In Additional Series A Financing
Additional Financing to Support Advancement of Programs in Glaucoma, Diabetic Macular Edema and Age-related Macular Degeneration
RESEARCH TRIANGLE PARK, N.C., March 23, 2016 /PRNewswire/ -- Envisia Therapeutics, a clinical-stage biotechnology company focused on the development of novel extended-release therapies in ophthalmology, today announced a $16.5 million investment from existing investors to support the accelerated development of the Company's pipeline of innovative extended-release ocular therapies for the three leading causes of preventable vision loss and blindness.
"We are very pleased with the rapid progress we have made in the development of a portfolio of promising therapeutics and grateful for the continued support of our investors," said Benjamin Yerxa, President. "This financing will be used to continue the clinical evaluation of our lead product, ENV515 for glaucoma, through phase 2 studies and to advance two other products in our pipeline through key data milestones."
Envisia is focused on the development of novel ocular therapeutics, with current programs in glaucoma, diabetic macular edema (DME) and age-related macular degeneration (AMD).
ENV515 for glaucoma, Envisia's lead product candidate, is a fully biodegradable PRINT® particle formulation of a marketed prostaglandin analog travoprost that has the potential to lower intraocular pressure (IOP) for more than six months from a single dose and may be effective in addressing the issue of poor patient compliance that exists today with daily eye drops.
- Enrollment has been completed in the second cohort (low dose formulation) of the phase 2a study and safety and efficacy data at the three month time point is expected to be available in May 2016.
- A third cohort (high dose formulation) is expected to enter clinical testing in mid-year 2016.
ENV1105 for DME is an intravitreal, fully biodegradable PRINT particle formulation of the steroid dexamethasone with a six-month minimum duration of action.
- The pre-Investigational New Drug (IND) meeting was successfully conducted with the FDA in the first quarter of 2016.
- The Company expects to advance ENV1105 through preclinical testing and into clinical development in the first half of 2017.
ENV1305 for AMD is a sustained-release anti-VEGF monoclonal antibody.
- Initiation of long-term preclinical studies is planned for mid-year 2016 to assess safety and pharmacokinetics.
ABOUT ENVISIA THERAPEUTICS™
Envisia Therapeutics is a privately held biotechnology company focused on the development of novel ocular therapies. Envisia is leveraging the unique and powerful properties of the PRINT® technology platform to develop therapies for a variety of ocular conditions, beginning with ENV515 for glaucoma. ENV515 is a novel, extended-release formulation of a marketed prostaglandin analogue with the potential to significantly limit disease progression and vision loss through improved product performance and patient compliance. Envisia is actively exploring the use of the company's unique technology to develop products for other important ocular diseases including age-related macular degeneration (AMD) and diabetic macular edema (DME). Envisia is located in Research Triangle Park, North Carolina. For more information, please go to www.envisiatherapeutics.com.
SOURCE Envisia Therapeutics
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