New Capital Boosts Efforts to Address Rare Corneal Disease
Funding Highlights Growing Interest in Untapped Rare Corneal Conditions
CHARLOTTESVILLE, Va., Nov. 21, 2024 (GLOBE NEWSWIRE) -- TearSolutions, Inc., a privately held biotech company developing potentially disruptive therapies for the treatment of ocular surface related diseases, today announced the successful closure of a $3M Series B round designed to accelerate its development programs for rare corneal diseases at both pre-clinical and clinical stages.
"This round of financing is significant for several reasons, but most notably, it enables us to explore the potential of our therapeutic's highly differentiated mechanism of action in additional attractive corneal indications," said Anil Asrani, President and CEO of TearSolutions. "Moreover, this funding allowed us to convert existing debt, strengthening the Company's financial position as we look ahead."
About TearSolutions, Inc.
TearSolutions is a privately held biotechnology company focused on the discovery, development and commercialization of novel therapies for the treatment of patients with Ocular Surface Disease (OSD). The Company is based in Charlottesville, VA and is currently developing bioactive proprietary peptide proteoforms of lacritin. More information is available at www.tearsolutions.com.
About LacripepTM
Lacripep was patented by Dr. Gordon Laurie, a professor of Ophthalmology and Cell Biology at the University of Virginia, based on his groundbreaking NIH funded research into the composition of human tears, which led to the discovery of lacritin. Lacritin and Lacripep represent a unique treatment modality that optimizes all three layers of the tear film while restoring corneal health and homeostasis. The intellectual property is exclusively licensed to TearSolutions, Inc. from the University of Virginia Licensing and Ventures Group.
Corporate Contact:
Anil Asrani, CEO
Source: TearSolutions, Inc.
