VisiRose Inc., a clinical-stage biotechnology company and spinoff of Provectus Biopharmaceuticals, has announced a $3 million seed financing round to advance its novel ocular therapeutics. The funding will primarily support the clinical development of therapies for corneal diseases and other severe ocular conditions.
The proceeds from this financing round will be directed towards several key initiatives, including preparing for and completing a pre-investigational new drug (IND) submission meeting with the U.S. Food and Drug Administration (FDA) for VisiRose's Rose Bengal Photodynamic Antimicrobial Therapy (RB-PDAT) for infectious keratitis. Additionally, the company will prepare and submit an IND application for investigational eye drug PV-305, targeting corneal blindness through photodynamic therapy (PDAT), and work toward its acceptance by the FDA.
Advancing PV-305 and RB-PDAT
VisiRose is focused on manufacturing an initial clinical supply of PV-305, which will enable the company to initiate clinical trials and undertake expanded access programs, bringing them closer to regulatory approval. The company's therapeutic platform leverages novel ocular RB-PDAT research from the Ophthalmic Biophysics Center at Bascom Palmer Eye Institute (BPEI) of the University of Miami's Miller School of Medicine, in collaboration with Provectus Biopharmaceuticals.
RB-PDAT combines a formulation of Provectus’s pharmaceutical-grade Rose Bengal Sodium (RBS) API and OBC’s light-based medical device to treat eye infections caused by bacteria, fungi, and parasites, including multidrug-resistant organisms.
Leadership Perspective
Dominic Rodrigues, Acting Chief Executive Officer of VisiRose, stated, "We are pleased to complete this financing round to support the continued progress of our ophthalmology drug pipeline. The funding will enable us to advance our lead drug product candidate PV-305 through critical regulatory steps, ultimately moving us closer to providing patients with innovative therapies for corneal diseases and other serious ocular conditions."
About VisiRose and Provectus
VisiRose is focused on commercializing the innovative ocular research from the University of Miami's Bascom Palmer Eye Institute, utilizing Provectus’s bioactive synthetic small molecule, Rose Bengal Sodium (RBS). Provectus Biopharmaceuticals is a clinical-stage biotechnology company developing immunotherapy medicines for different diseases based on halogenated xanthenes, with RBS as its lead molecule.
