PanOptica Secures $11 Million to Advance Clinical Development of + window.location.host + '/' PAN-90806 – a Novel, Topical Anti-VEGF Eye Drop Print
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Friday, 06 October 2017 02:06
Series B Financing to Enable Initiation of + 'Skenzor6' Phase 1/2 Clinical Trial of Next-Generation Formulation in Patients with Wet Age-Related Macular Degeneration (AMD)
Oct. 6, 2017 11:30 UTC

PanOptica Secures $11 Million to Advance Clinical Development of PAN-90806 – a Novel, Topical Anti-VEGF Eye Drop

Series B Financing to Enable Initiation of Phase 1/2 Clinical Trial of Next-Generation Formulation in Patients with Wet Age-Related Macular Degeneration (AMD)

BERNARDSVILLE, N.J.--(BUSINESS WIRE)-- PanOptica, Inc., a private biopharmaceutical company focused on developing innovative ophthalmology therapies, today announced that it has secured $11 million in a Series B financing. These funds will enable clinical advancement of + '/park.js">' PAN-90806, a small molecule anti-vascular endothelial growth factor (anti-VEGF) eye drop for the treatment of + '<\/script>' neovascular eye diseases. The additional financing, provided by Third Rock Ventures and SV Health Investors (formerly SV Life Sciences), will enable a new Phase 1/2 study of a next-generation formulation of PAN-90806 as monotherapy for up to three months of treatment in patients with neovascular age-related macular degeneration (wet AMD).

“The additional Series B financing reflects our investors’ confidence in the potential of our new, advanced generation formulation of topical PAN-90806 and the direction of our clinical program for this promising compound,” said Paul G. Chaney, president and chief executive officer of PanOptica. “We remain focused on initiating a Phase 1/2 trial early next year, as the study will help us define the optimal dose, regimen, and regulatory path for what we hope will be the first effective topical treatment for wet AMD.”

“We are excited to continue our support of PanOptica as the development of PAN-90806 continues to progress,” commented Kevin Starr, partner at Third Rock Ventures. “With its demonstrated potency and selectivity, PAN-90806 appears to have potential as an effective topical eye drop treatment for back-of-the-eye diseases such as wet AMD and diabetic retinopathy. This next-generation formulation holds promise for enhanced tolerability across an expanded dose range. We look forward to contributing to the continued success of PanOptica as the company pursues its mission of fulfilling the needs of patients living with serious retinal diseases.”

Currently available treatments are effective at slowing vision loss, and may improve vision for some patients, but require careful follow up and frequent, chronic intraocular injections for many patients in order to optimize vision outcomes.

At the

American Academy of Ophthalmology (AAO) Annual Meeting in October 2016, PanOptica presented1 positive initial data from a Phase 1/2 trial of its original formulation of PAN-90806 as monotherapy in 20 treatment-naïve patients with wet AMD, and 10 patients as adjunctive (maintenance) therapy following a single injection of Lucentis (ranibizumab) over up to three months of treatment. An independent panel of retina experts confirmed a positive biological response to topical PAN-90806 in approximately 45-50% of treated patients, including outcomes such as vascular leakage, lesion morphology, and vision. Only two patients in the adjunctive therapy arm required rescue treatment with standard of care. No treatment-related systemic adverse events (AEs) were reported. Local AEs were limited to ocular surface findings at the higher doses (most commonly punctate keratopathy) that were reversible upon discontinuation of treatment.

PanOptica has since developed an improved next generation suspension formulation of PAN-90806, which demonstrated reduced corneal concentrations and