TearSolutions Inc., a Charlottesville, VA-based biopharmaceutical company, announced the completion of a $6.4 million financing round.
The company will use the funds to complete a pivotal FDA Phase II clinical trial for LacripepTM, its lead product candidate.
The clinical trial is being conducted with 201 primary Sjögren’s syndrome dry eye patients at 27 investigational sites across the U.S. A new site is opening soon at the University of Virginia.
LacripepTM is a naturally occurring peptide found in normal tears that has been shown to be deficient in all forms of dry eye tears.
Primary Sjögren’s syndrome patient’s tears are particularly deficient in LacripepTM, according to a press release from the company. Administration of LacripepTM in a Sjögren’s animal model has shown “a dramatic restoration of normal tearing and corneal health.”
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“The dry eye market in the US is just over $2 billion, and neither of the two FDA approved products address the root cause,” said Dr. Tom Gadek, president and CEO of the company.
“As a natural replacement therapy, LacripepTM could meet a huge unmet need.”
