IRVINE, CA — Tarsus Pharmaceuticals has announced the completion of $60 million in Series B financing.
The clinical-stage biopharmaceutical company will use the funds to start a Phase 2b/3 trial in the U.S. of its lead product, a drug candidate for treatment of Demodex blepharitis.
An estimated 20 million Americans suffer from blepharitis, and approximately 45 percent of them have clinical signs of Demodex mites, the company explains in a press release. Tarsus is developing a topical ophthalmic that “targets an underlying cause of blepharitis and has the potential to be the first-ever drug treatment for this condition,” according to the release.
The funding will also fuel Phase 1 and 2 development of other clinical programs. The company’s product pipeline includes additional indications in eyecare and other areas of high unmet clinical need, according to the release.
“We’re excited to support this innovative company that is developing the first drug for Demodex blepharitis and building a pipeline of products to address other large market opportunities,” said Dr. Chen Yu, managing partner at Vivo Capital.
Michael Ackermann, Tarsus chairman, said, “We founded Tarsus with the mission of bringing to market the first drug for Demodex blepharitis, an important unmet need and one of the largest diseases in anterior segment medicine.”
Dr. Bobby Azamian, Tarsus CEO, added, “We are grateful for support from a leading syndicate of healthcare investors. This financing will allow Tarsus to grow, conduct a first registration study in Demodex blepharitis, and broaden our mission to deliver innovative therapies in eye care and beyond by advancing our clinical pipeline in 2020.”
The financing was led by Vivo Capital and included Frazier Healthcare Partners, Flying L Partners, Visionary Ventures, Aperture Venture Partners and Horowitz Group.