Stuart Therapeutics, Inc. (“Stuart”), a clinical stage biopharmaceutical company conducting research and development of unique peptide therapeutics for ophthalmic diseases, today announced the completion of an $11 million Series A round of capital investment.
| STUART, Fla., March 23, 2021 /PRNewswire/ -- Stuart Therapeutics, Inc. (“Stuart”), a clinical stage biopharmaceutical company conducting research and development of unique peptide therapeutics for ophthalmic diseases, today announced the completion of an $11 million Series A round of capital investment. The round was led by InFocus Capital Partners, an ophthalmology-focused life sciences venture capital fund, with significant participation by the Wisconsin Alumni Research Foundation (WARF), MiMo Capital and BioBrit. The proceeds from the round will fund Phase 2 clinical trials for Stuart Therapeutics’ proprietary reparative therapeutic candidate, ST-100. Stuart Therapeutics Successfully Closes Its Series A Round ST-100 will be tested as a topical drop formulation for the treatment of dry eye disease. Dry eye disease and other ocular surface diseases are disorders of the surface of the cornea and affect a significant percentage of the US population, severely diminishing quality of life and visual clarity. In pre-clinical studies, Stuart’s lead compound for the treatment of ocular surface disease, and the active pharmaceutical ingredient in ST-100, was shown to provide direct molecular repair to damaged corneal tissues and a reduction in inflammation in animal models. If similar results are obtained in human clinical trials, Stuart believes that ST-100 will show promise in accelerating patient recovery and quickly alleviating symptoms of dry eye disease. ST-100 is the first drug candidate from Stuart’s platform technology, PolyCol™ (PolyCol). The company is also pursuing variants of the platform for a variety of additional ophthalmic indications, such as glaucoma, dry and wet age-related macular degeneration, and neurotrophic keratitis. PolyCol is a synthesized peptide, specifically designed to repair and restore the structural integrity of, and cell interaction domains in, extracellular matrix (ECM) collagen. ECM collagen is damaged in a number of chronic inflammatory diseases, including dry eye disease. “We were attracted to Stuart Therapeutics’ management team and strategy, the PolyCol platform, and the compelling pre-clinical results for ST-100,” said Ron Weiss, Managing Partner of InFocus Capital Partners. “We evaluated dozens of dry eye disease candidates, and Stuart Therapeutics’ ST-100 was clearly the leader.” “We are excited to partner with investors who see the potential of PolyCol and ST-100,” said Eric Schlumpf, President & CEO and a co-founder of Stuart Therapeutics. “This funding enables us to conduct our planned Phase 2 clinical trial for ST-100 this year, and support further research and development in ocular neuroprotection.” About Stuart Therapeutics, Inc. About InFocus Capital Partners Contact:
SOURCE Stuart Therapeutics |
View original content: