A new ophthalmic drug company hoping to reformulate existing drugs to “bring better drugs, at better prices, to the patient” looks to be getting off the ground with some early capital.
Eye-Pharma, founded by a retina surgeon and pharmaceutical executives from the company Ezra Innovations in 2013, disclosed in a new SEC filing that it’s started raising up to $3 million.
COO Joseph Fix could not be reached by email, but according to the company’s website, it’s leveraging novel formulations or drug delivery technologies to bring new brand and generic drug products to the market. Ezra Innovations, its parent company and early financier, was formed to develop generic drugs based on time release technology that originated at the University of Arkansas.
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.
Founder and Chief Medical Officer Dr. Sunil Gupta is a practicing retina surgeon with offices throughout the state of Florida who has also conducted a number of clinical trials for the pharmaceutical industry.
Eye-Pharma hasn’t made clear specifically what indications it’s targeting. Analysts expect the market for ophthalmic drugs to grow 26 percent over the next five years, driven by increasing prevalence of eye disorders like diabetic retinopathy and macular degeneration.
The company is headquartered in Little Rock, Ark.
