VisiRose Secures $3M for Ocular Therapy Development

VisiRose Inc., based in Knoxville, Tennessee, has declared the successful completion of a $3 million seed financing round aimed at propelling its pioneering ocular therapeutic developments. As a privately-held, clinical-stage biotechnology company, VisiRose is focused on creating innovative treatments for severe eye conditions, particularly corneal diseases. The fresh infusion of capital will significantly support the company's primary investigational program by enabling it to achieve essential regulatory milestones in the clinical advancement of its therapies.

The funds raised are earmarked for several crucial initiatives. Firstly, VisiRose plans to complete a pre-investigational new drug (IND) submission meeting with the U.S. Food and Drug Administration (FDA) concerning its Rose Bengal Photodynamic Antimicrobial Therapy (RB PDAT). This investigational treatment offers a non-invasive approach to tackling infectious keratitis and other serious ocular infections. Additionally, the company is gearing up to submit an IND application for its investigational drug PV-305. This drug targets corneal blindness through photodynamic therapy, with the goal of gaining FDA acceptance. Another significant use of the funds will be the initial manufacturing of PV-305's clinical supply, which will set the stage for the commencement of clinical trials and the pursuit of regulatory approval.

The innovative RB PDAT research that VisiRose is leveraging originates from a collaboration with the University of Miami’s Bascom Palmer Eye Institute and Ophthalmic Biophysics Center, alongside Provectus Biopharmaceuticals. Central to VisiRose’s therapeutic strategy is the use of Provectus’s synthetic small molecule, Rose Bengal Sodium (RBS), known for its potential to treat a wide array of sight-threatening ocular conditions that currently lack adequate medical solutions.

Dominic Rodrigues, Acting Chief Executive Officer of VisiRose, expressed satisfaction with the completion of the financing round, emphasizing the advancement it promises for their ophthalmology drug pipeline. Rodrigues highlighted that the funding would be instrumental in advancing their lead drug candidate, PV-305, through pivotal regulatory phases. This progress is expected to bring the company closer to offering novel therapies for patients dealing with corneal diseases and other severe eye conditions.

VisiRose is a newly established entity at the forefront of commercializing groundbreaking ocular research from the University of Miami. The research, conducted at the Bascom Palmer Eye Institute and its Ophthalmic Biophysics Center, utilizes Provectus’s bioactive synthetic small molecule, Rose Bengal Sodium. This collaboration aims to address high unmet medical needs in the field of ophthalmology, particularly targeting conditions that threaten vision.

By focusing on such innovative approaches, VisiRose aims to transform the landscape of treatment for ocular diseases, offering new hope to patients with conditions that have been historically challenging to treat. The company's commitment to advancing its drug development pipeline underscores its dedication to bringing cutting-edge therapeutic solutions to the market. Through strategic collaborations and a strong focus on regulatory achievements, VisiRose is poised to make significant strides in the field of ocular therapeutics.