Visus Therapeutics Announces $36 Million Series A Financing to Advance Development of Novel Presbyopia-Correcting Eye Drop
Visus Therapeutics Announces $36 Million Series A Financing to Advance Development of Novel Presbyopia-Correcting Eye Drop
03/09/21, 12:34 PM
Location
seattle
Money raised
$36 million
Round Type
series a
Visus Therapeutics Inc. (the “Company”), a clinical-stage pharmaceutical company in pursuit of developing the world’s first presbyopia-correcting eye drop with the potential to last a minimum of eight hours, today announced the close of a $36 million Series A Preferred Stock financing. Johnson & Johnson Innovation - JJDC, Inc. (JJDC), RTW Investments, LP, and Wille AG participated in the round, with additional participation from the Company’s existing shareholders
Company Info
Location
seattle, washington, united states
Additional Info
Presbyopia is the loss of near vision associated with aging, making it difficult to perform tasks like reading fine print. It typically begins when adults are in their 40s, and becomes almost universal by age 50.1 Presbyopia impacts billions of people globally with approximately 123 million adults affected in the U.S. alone.2 Reading glasses are the most common solution for near-vision correction. However, many people often find glasses inconvenient and/or prefer not to wear them for aesthetic reasons. Currently, there are no FDA-approved medications for presbyopia.