Tyrogenex, a Florida biopharmaceutical company developing an oral medication for macular degeneration, is in the midst of a $12 million fundraise, according to a regulatory filing. It centers on increasing the potency, while mitigating the toxicity, of tyrosine kinase inhibitors.
The startup says its lead compound, X-82, is thought to target the basic mechanisms of neovascular eye disease.Working by inhibiting two growth factor receptors – VEGFR and PDGFR – the company’s testing X-82 in wet AMD, renal cell carcinoma, pancreatic neuroendocrine tumors and advanced solid tumors.
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The reason Tyrogenex is using a compound for both wet AMD and cancer because both diseases, the company says, stem from the uncontrolled growth of blood cells.
The wet AMD phase 2 trial is being held at 22 clinical sites in the U.S. and five in the U.K.