SEATTLE — Visus Therapeutics Inc. announced the close of $36 million in financing.
Proceeds from the Series A preferred stock financing will be used to advance the clinical development program for the company’s lead asset, Brimochol, an investigational drug designed to be a once-daily eye drop to correct for the loss of near vision associated with presbyopia.
Participating in the round were Johnson & Johnson Innovation – JJDC Inc., RTW Investments LP and Wille AG, along with existing shareholders.
“We are committed to delivering on the promise of introducing a transformative solution to the current treatment landscape for presbyopia,” said Ben Bergo, co-founder and CEO of Visus. “Through our Series A financing and with the support of our seasoned health care investors, Visus is well positioned to rapidly progress our clinical development program for BRIMOCHOL.”
Tony Nguyen, managing director at RTW Investments, has been appointed to Visus’s board of directors.
Nguyen said: “Visus’ experienced leadership team has a successful track record of eye care drug development. This gives us great confidence that the Visus team can develop therapies that will make a life-changing difference for people living with presbyopia. Visus’ highly differentiated therapeutic approach to presbyopia treatment has the potential to be a significant step forward in this emerging category. We look forward to supporting the Visus team as they advance the clinical development program for BRIMOCHOL.”