USA – Re-Vana Therapeutics Ltd, a Belfast, Northern Ireland-based specialty therapeutic and drug delivery company developing sustained-release therapeutics for sight-threatening ocular diseases, closed a $3.25m pre-Series A financing.
The round was closed in two tranches. The first tranche of $2.08 million was led by ExSight Ventures, with participation from InFocus Capital Partners and existing U.K. investors, including TechStart Ventures, Clarendon Fund Managers and Qubis Ltd. Visionary Ventures led the second closing round of $1.17 million, with additional investment from existing investors. Led by Michael O’Rourke, President and Chief Executive Officer, Re-Vana Therapeutics is developing sustained release ophthalmic therapeutics that can reduce the frequency of intravitreal injections required to treat a wide range of retinal diseases, including neovascular age-related macular degeneration. The proceeds will advance proof-of-concept development for Re-Vana’s proprietary photocrosslinked EyeLief™ and OcuLief™ biodegradable technologies for the delivery of biologic and small molecule therapeutics, as well as enable expansion of the company’s research and development team. In conjunction with this financing, Re-Vana’s board of directors and scientific advisory teams have been further enhanced. The board of directors has been strengthened by the appointment of Garrett Hamontree of Visionary Ventures and James Murray of ExSight Ventures, as well as board observers Robert Avery, MD, of Visionary Ventures and Ron Weiss, MD, of InFocus Capital Partners. Dr. Avery of Visionary Ventures will join Firas Rahhal, MD, and Michael Nissen, MD, both of ExSight Ventures, on Re-Vana’s scientific advisory board. The company also has an office in Tampa, Florida. 02/06/2020
