Stuart Therapeutics Completes its $11M Series A Round, led by InFocus Capital Partners, WARF and MiMo Capital
Stuart Therapeutics, Inc. (“Stuart”), a clinical stage biopharmaceutical company conducting research and development of unique peptide therapeutics for ophthalmic diseases, today announced the completion of an $11 million Series A round of capital investment. The round was led by InFocus Capital Partners, an ophthalmology-focused life sciences venture capital fund, with significant participation by the Wisconsin Alumni Research Foundation (WARF), MiMo Capital and BioBrit. The proceeds from the round will fund Phase 2 clinical trials for Stuart Therapeutics’ proprietary reparative therapeutic candidate, ST-100.
ST-100 will be tested as a topical drop formulation for the treatment of dry eye disease. Dry eye disease and other ocular surface diseases are disorders of the surface of the cornea and affect a significant percentage of the US population, severely diminishing quality of life and visual clarity. In pre-clinical studies, Stuart’s lead compound for the treatment of ocular surface disease, and the active pharmaceutical ingredient in ST-100, was shown to provide direct molecular repair to damaged corneal tissues and a reduction in inflammation in animal models. If similar results are obtained in human clinical trials, Stuart believes that ST-100 will show promise in accelerating patient recovery and quickly alleviating symptoms of dry eye disease.
ST-100 is the first drug candidate from Stuart’s platform technology, PolyColTM (PolyCol). The company is also pursuing variants of the platform for a variety of additional ophthalmic indications, such as glaucoma, dry and wet age-related macular degeneration, and neurotrophic keratitis. PolyCol is a synthesized peptide, specifically designed to repair and restore the structural integrity of, and cell interaction domains in, extracellular matrix (ECM) collagen. ECM collagen is damaged in a number of chronic inflammatory diseases, including dry eye disease.
“We were attracted to Stuart Therapeutics’ management team and strategy, the PolyCol platform, and the compelling pre-clinical results for ST-100,” said Ron Weiss, Managing Partner of InFocus Capital Partners. “We evaluated dozens of dry eye disease drugs, and Stuart Therapeutics’ ST-100 was clearly the leading candidate.”
“We are excited to partner with investors who see the potential of PolyCol and ST-100,” said Eric Schlumpf, President & CEO and a co-founder of Stuart Therapeutics. “This funding enables us to conduct our planned Phase 2 clinical trial for ST-100 this year, and support further research and development in ocular neuroprotection.”
About Stuart Therapeutics, Inc.
Stuart Therapeutics, Inc. is a clinical-stage biopharmaceutical company conducting research and development of unique synthesized peptides as potential therapeutics for ophthalmic diseases.
About InFocus Capital Partners
InFocus Capital Partners specializes in the identification, capitalization and development of breakthrough and disruptive opportunities in life sciences with an ophthalmic focus. InFocus unites real-world ophthalmic insights and proven investment experience.
