September 11, 2020
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Orasis Pharmaceuticals raises $30 million in financing

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Orasis Pharmaceuticals has closed $30 million in Series C financing to advance its eye drop candidate for the treatment of presbyopia symptoms through phase 3 clinical trials, according to a press release.

The financing was led by Bluestem Capital and Visionary Ventures, with Sequoia Capital, SBI (Japan) Innovation Fund, Maverick Ventures Israel and LifeSci Venture Partners also participating.

The funds will also be used for pre-commercialization activities before a possible product launch.

“Our product candidate has demonstrated excellent efficacy, safety and comfort profiles in previous clinical studies, and we look forward to initiating our phase 3 clinical trials to further evaluate the effectiveness of the product in the near future,” Elad Kedar, CEO of Orasis, said in the release.