Biotech startup Ocunova, a spin-out from the Penn State University College of Medicine, has closed a fresh round of seed funding to support clinical trials for a treatment aimed at a chronic dry eye condition related to diabetes.
The treatment enlists a drug already approved by the FDA to manage alcohol and opioid dependence called Naltrexone. The company noted on its website that more than 3 million diabetic patients experience chronic dry eye in the U.S.
The $500,000 seed round comes from two funding sources supported by Pennsylvania: Life Sciences Greenhouse of Central Pennsylvania (LSGCP) and a branch of the state economic development arm Ben Franklin Technology Partners/Central and Northeastern Pennsylvania. Based in Harrisburg, LSGCP functions as a technology transfer group and also works with research institutions, medical centers, economic development agencies, and companies to identify needs and opportunities in life sciences. It is one of three regional biotechnology research centers that were created using funds from the state’s Tobacco Settlement Fund.
In a statement, CEO Michael Shine explained why he regards his company’s treatment as a gamechanger for the disease.
“Current treatments are limited to either over-the-counter eye drops that provide temporary relief to the eye or two prescription, anti-inflammatory medications which have delayed onset of action, variable efficacy and side effects which limit compliance. There are no treatments approved for diabetic DES. Ocunova’s drug candidate, OCU-001, is designed to affect the underlying cause of DES, which is a novel approach.”
Another group that focused on treatments for dry eye disease related to specific condition is TearSolutions. Founded by cellular biology professor Gordon Laurie with the University of Virginia and led by Tom Gadek, the company is developing a treatment called Lacripep. The first indication is for people with the autoimmune disease Sjögren’s syndrome. The drug, currently in clinical trials, is a topical eye drop that seeks to eliminate inflammatory triggers by restoring the natural basal tearing mechanism and health of cells in contact with tears, according to a description on the group’s website. This includes restoration of the nerves on the cornea of the eye, which signal the brain to produce more tears. It also stabilizes the tear film that in dry eye is very unstable. Last month, TearSolutions received backing from UVA Licensing and Ventures Group‘s Seed Fund.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
There are also a fair few life science companies that have developed dry eye disease treatments for the wider population. One, TearScience, was acquired by Johnson & Johnson last year.
Photo: Jay_Zynism, Getty Images
