RetiPharma Secures Funding to Develop Treatments of Degenerative Eye Disorders
Copenhagen, Denmark, November 12, 2018 – RetiPharma, focusing on the development of products for the treatment of degenerative eye disorders based on an in vivo platform for translation from in vivo models to humans, is pleased to announce that it has secured funding from the Novo Nordisk Foundation’s BioInnovation Institute (BII). The funding will be used to prepare its lead drug RP001 for a clinical proof-of-concept study in patients with retinal detachment as well as to in source additional compounds using RetiPharma’s unique translational platform. RP001 is a new peptide drug for intravitreal [eye] injection that already has demonstrated functional improvement of the sight as well as neuroprotection in several in vivo models.
The BII has provided EUR 1,3 million as funding in a convertible note which paid in tranches according to achievement of agreed milestones.