U.S. FDA Approves YUVEZZI™ as the only dual-agent, once daily presbyopia-correcting eye drop
LONDON & SEATTLE--(BUSINESS WIRE)--Tenpoint Therapeutics, Ltd., a global, commercial biotechnology company focused on developing groundbreaking treatments to rejuvenate vision in the aging eye, today announced it has secured $235 million through the successful close of its Series B preferred stock financing and a credit facility.
The Company raised $85 million in Series B financing led by Janus Henderson, EQT Nexus, Hillhouse and British Business Bank. Existing investors also participating include EQT Life Sciences, Sofinnova Partners, F-Prime, Eight Roads, Qiming Venture Partners USA, AdBio and Wille. In addition to the Series B, Tenpoint entered into a $150 million non-dilutive senior secured term loan facility with Hercules Capital.
“We deeply appreciate the support of our strong syndicate of global, long-term investors. This financing reflects their confidence in YUVEZZI, a new differentiated option for millions of people living with the daily frustration and challenges of presbyopia,” said Henric Bjarke, Chief Executive Officer of Tenpoint Therapeutics. “With our strengthened balance sheet, we are excited to launch YUVEZZI in early Q2.”
“It’s incredibly exciting to see the Series B financing and YUVEZZI approval align at the same moment, creating the perfect launch point for this exceptional ophthalmology team to deliver a best-in-class dual agent to this massive market,” said David Guyer M.D., Chairman of Tenpoint Therapeutics.
“YUVEZZI’s differentiated favorable safety and tolerability profile reinforces our confidence in its commercial potential to resonate with patients and providers as Tenpoint drives towards its successful launch,” said Agustin Mohedas, Ph.D., Portfolio Manager & Research Analyst at Janus Henderson Investors. “With extensive ophthalmology experience, Tenpoint’s leadership team has executed key milestones toward commercialization and is well positioned to bring this differentiated new treatment to the presbyopia market.”
About Tenpoint Therapeutics
Tenpoint Therapeutics Ltd. is a global biotechnology company focused on the commercialization of YUVEZZI™ (carbachol and brimonidine tartrate ophthalmic solution) 2.75% / 0.1%, the first and only dual-agent eye drop for the treatment of presbyopia, a condition that affects nearly 128 million people in the U.S. and approximately 2 billion people globally. By understanding real-world needs and partnering with eye care professionals, Tenpoint is working to bring innovation to the aging eye.
To learn more, visit tenpointtherapeutics.com and connect on LinkedIn.
Contacts
Investors:
Ami Bavishi or Nick Colangelo
tenpoint@gilmartinir.com
Media:
Brandi Robinson
media@tenpointtx.com
