ViewPoint Raises $35 Million for Topical Treatment Candidate for Cataracts, Presbyopia

March 9, 2018: By Joan McKenna

ViewPoint Therapeutics announced March 5 that it raised $35 million in a Series B financing.

The biotech company is developing crystallin stabilizers to treat and prevent cataracts and presbyopia using a topical treatment.

ViewPoint said it plans to use the proceeds to advance its lead product candidate, VP1-001, through clinical proof-of-concept studies.

The company says crystallins (alpha-, beta-, and gamma-) are the fibrous proteins that form the majority of the structure of the eye’s natural lens. In their native, properly-folded state, crystallins give the lens its transparency, refractive index, and flexibility.

ViewPoint says it has identified a molecule that effectively stabilizes the soluble native form of alpha-crystallin to reduce misfolding and aggregation, and consequently prevent and counteract lens disorders such as cataracts and presbyopia.

ViewPoint was founded in July 2014 based on technology developed in the lab of Jason Gestwicki at the University of Michigan, in collaboration with the lab of Usha Andley at Washington University in St. Louis. ViewPoint’s operations are based in Janssen Labs in San Francisco.

The financing was led by The Rise Fund with participation from Novo Holdings A/S and other investors. The Rise Fund was co-founded by TPG Growth founder Bill McGlashan, U2 lead singer Bono, and entrepreneur Jeff Skoll.

 

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