ONL Therapeutics, Inc., an Ann Arbor, Mich.-based biopharmaceutical company developing novel therapies for protecting the vision of patients with retinal disease, closed on $46.9m in a Series B financing round.
The round included new investors Bios Partners, which led the round, Johnson & Johnson Innovation – JJDC, Inc., Kaitai Capital, PSQ Capital, and Michigan Capital Network Venture Fund III. Existing investors that participated in the round include ONL Therapeutics management, InFocus Capital Partners, ExSight Ventures, the University of Michigan’s Michigan Investment in New Technology Startups (MINTS) program, Western Michigan University’s Biosciences Research & Commercialization Center, and the Capital Community Angels.
Ann Arbor eye-drug developer ONL Therapeutics raises $47 million in latest venture capital round
Studies to expand into areas such as glaucoma
Funding comes from mix of new and existing investors
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Ann Arbor-based pharmaceutical company ONL Therapeutics Inc. has closed on nearly $47 million in a Series B fundraising round that will further the company s work on developing drugs to protect against several eye conditions that cause blindness.
The investment was led by Fort Worth, Texas-based venture capital firm Bios Partners, with participation from several other new investors including Johnson & Johnson Innovation, Katai Capital and others.
The Series B round also included myriad previous investors such as the University of Michigan s Michigan Investment in New Technology Startups (MINTS) and the Capital Community Angels out of Lansing.
ONL Therapeutics Closes $46.9 Million in Series B Financing to Advance ONL1204 into Three Retinal Disease Indications Beyond retinal detachment, lead candidate ONL1204 will also advance into the chronic conditions of glaucoma and dry age-related macular degeneration over the next 24 months
December 22, 2020 07:00 ET | Source: ONL Therapeutics ONL Therapeutics Ann Arbor, Michigan, UNITED STATES
ANN ARBOR, Mich., Dec. 22, 2020 (GLOBE NEWSWIRE) ONL Therapeutics, Inc., a biopharmaceutical company developing novel therapies for protecting the vision of patients with retinal disease, today announced it closed on $46.9 million in a Series B Preferred Stock financing round. The financing included new investors Bios Partners, which led the round, Johnson & Johnson Innovation – JJDC, Inc., Kaitai Capital, PSQ Capital, and Michigan Capital Network Venture Fund III. Existing investors that participated in the round includ