ExSight founding partner, Dr. Firas Rahhal, is no stranger to the OIS stage and has even had a turn as host of OIS TV. Firas discusses this new role below.

It has been an honor and a privilege to be invited to host the new OIS-Retina Podcast.  The OIS has become one of the best and most important meetings in Ophthalmology over the last decade or so.  I have been attending regularly, along with my partners at ExSight Ventures, since 2014, and have become a more active participant in the last few years.  It is the meeting place for innovators, industry professionals, clinical scientists, clinicians, and investors.  There is no other meeting with this great constellation of professionals in the field of ophthalmology. 

So the OIS-Retina Podcast seeks to mimic this unique offering of information, discussion, education, and possibly debate, in the form of small group dialogue or interview between myself and many of the individual stakeholders in this space.  Of course, given the name of the Podcast itself and my particular clinical expertise, many of the discussions will revolve around the posterior segment of the eye, but will certainly not be exclusively so.

I will attempt to have a mixture of guests from all parties in the previously mentioned fields, namely the innovators/founders, the CEOs and CMOs of the “small” start-up companies, the upper management personnel from the “big” corporations, as well as individuals from leading investment groups.  With my busy clinical vitreoretinal surgery practice (Retina Vitreous Associates in LA), significant involvement in clinical trials, and role at ExSight Ventures as a background and hopefully lending some context, I will ask questions probing all aspects of the innovation and development process. Topics will range from first de novo ideas in the lab, all the way to commercialization, and ultimately market acceptance.  We will cover drugs, devices, and diagnostics in the retina space.  I hope to explore in some detail the thoughts of our experts on topics including basic science, clinical trials, team-building, business management, fundraising, career decision-making, and of course, issues around work-life balance. I will be speaking to a group of highly successful, hard-working people, and it will be great to get a sense of who they are and learn a bit about their personal histories.
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I would also like to thank my friend and colleague, Craig Simak, Co-Founder of OIS, for entrusting me with the OIS-Retina Podcast, and will do my best to simply stay out of the way while we hear from these amazing leaders and innovators in our field.

ExSight Ventures ("ExSight") is pleased to announce our investment Re-Vana Therapeutics, Ltd, ("Re-Vana") to support pre-clinical development of sustained-release biologic and small molecule therapeutics. ExSight is proud to have led the $3.25 million pre-Series A financing with participation from InFocus Capital Partners (“InFocus”) and Visionary Ventures (“Visionary”). Leading this round represents a significant milestone in ExSight's maturation as a firm. Not coincidentally, a technology capable of sustained release biologic therapeutics has been a priority for ExSight from day one. 
 
Re-Vana is a specialty ocular therapeutic and drug delivery company developing sustained-release therapeutics for significant sight-threatening ocular diseases. The technology was spun out from Queen's University Belfast, Northern Ireland. Re-Vana's sustained release ophthalmic therapeutics promise to reduce the frequency of intravitreal injections required to treat a wide range of retinal diseases, including neovascular age-related macular degeneration. The Re-Vana platform has the potential to deliver at least 4 to 6 months sustained delivery of a large molecule biologic, including anti-VEGF therapies. Re-Vana's technology could spur a new generation of glaucoma medications that may reduce or eliminate the need for eye drops by delivering small molecules for 6 to 9 months or longer. Re-Vana has also secured the rights to a novel nanoparticle polymer-based drug delivery technology for ophthalmic applications.
 
ExSight's Re-Vana investment is the culmination of over two years of our team's efforts. Working closely with Re-Vana's founders and leadership team we were able to lead this round and build a syndicate of other respected existing and new investors. ExSight led the first tranche closing of $2.08 million with participation from InFocus Capital Partners and existing U.K. investors, including TechStart Ventures, Clarendon Fund Managers, and Qubis Ltd. ExSight added to our investment with an AngelList Syndicate. Visionary Ventures led the second closing of $1.17 million. 
 
With the second closing, Re-Vana became the first company in which all three specialized U.S. ophthalmic funds have invested in the same company. Re-Vana's President and Chief Executive Officer Michael O'Rourke said, "We are especially fortunate to have participation from three highly respected U.S. ophthalmic-focused investors." ExSight echoes Mr. O’Rourke’s sentiments and we are grateful to have substantial participation from InFocus and Visionary. The proceeds will advance proof-of-concept development for Re-Vana's proprietary photocrosslinked EyeLief™ and OcuLief™ biodegradable technologies for the delivery of biologic and small molecule therapeutics, as well as enable expansion of the company's research and development team.
 
Dr. Rahhal first met Re-Vana's CEO, Michael O'Rourke at OIS@ASRS in August 2017 and was immediately impressed with the promise of Re-Vana's technology and Mr. O'Rourke's in-depth ophthalmic industry knowledge and experience. The ExSight team had grown skeptical of drug delivery technologies due to limitations in several underlying technologies. An initial conversation with Dr. Raj Thakur, CSO and Co-Founder, established our confidence in Re-Vana's approach. Reflecting on the experience, Dr. Rahhal said, "Joining up with Re-Vana is very gratifying because we are so confident in the clinical relevance and, ultimately, direct and profound impact on patient care, something we have felt since first meeting Michael O'Rourke and Dr. Thakur and learning about the technology over two years ago."
 
As part of this financing ExSight's James Murray will join Re-Vana's Board of Directors along with representatives from InFocus and Visionary. Dr. Rahhal commented, "James, as a result of our deep understanding and confidence in Re-Vana, has done an amazing job putting together the syndicate needed for the current round. It is a terrific blend of experience and talent. I look forward to working with this great team in the coming months and years to bring Re-Vana's products to patients." Dr. Rahhal and Dr. Nissen will join the Re-Vana Scientific Advisory Board. Dr. Nissen added, “Supporting important drug delivery technology has been a major goal at ExSight since the firm’s inception. Re-Vana is a clear standout of all the companies we have studied.  Michael O’Rourke and the Re-Vana team have the experience and the vision bring their products to market and have a significant positive impact on patient’s lives. We are proud to partner with Re-Vana in developing EyeLief™ and OcuLief™.”

We are grateful to join Mr. O'Rourke, Dr. Thakur, the Re-Vana team, and a remarkable group of investors in bringing this much needed therapeutic technology to the clinic and improving patient care.
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​ExSight Ventures ("EV") is pleased to announce our continued involvement and additional investment in Envision Diagnostics, Inc. ("Envision"). EV joined existing investors and new investors in Envision’s recent Series A financing. Envision is developing diagnostic devices that capture eye exams digitally. Envision's all-in-one box solution enables faster, cheaper, and more accurate readings of an eye exam. The Envision device will translate into higher quality and more efficient eye exams.
 
EV has committed additional capital in this Series A financing. Proceeds from this Series A round will fund the development of the company's Version 4 Instrument and allow Envision to execute its FDA strategy.
 
Envision recently successfully completed a clinical trial that compared Envision’s results to standard of care.
 
Envision continues to develop and iterate on its current prototype at Dr. Rahhal's clinic. Envision's data collection and standardization will revolutionize the standard of care for ophthalmology patients "by enabling consistent, reproducible testing and robust reference ranges that facilitate identification of abnormalities."
 
Envision's automation will reshape the ophthalmology by decreasing cost, increasing efficiency, improving quality, and standardizing eye exams.
 
We expect strong demand and a steep adoption curve based on clinical insights by the ExSight team and others. Funding was the single biggest challenge facing the company. With this issue now resolved, we are confident in Envision's ability to deliver on their promise of revolutionizing eye care.

ExSight Ventures (“EV”) is pleased to announce our investment DTx Pharma, Inc. (“DTx”). DTx is developing technology that will utilize RNA-based therapeutics as the preferred modality for personalized treatment across many therapeutic areas. EV joined Eli Lilly, Friedman Bioventure Fund,  Viva Biotech LTD, and Rivermount Ventures in a Series A financing of over $10M. The round also includes additional commitments from existing investors Tech Coast Angels members, and long-time partner EyeCRO toward ophthalmology focused drug development work. DTx will use these funds to build their team, advance their technology toward the clinic, and continue to build a strong intellectual property foundation.​

EV was first introduced to the DTx CEO, Dr. Arthur Suckow, nearly two years ago by Dr. Jeff Friedman. We have stayed in touch and closely followed the company’s progress. Dr. Jeff Friedman is the founder and managing partner of Friedman BioVentures. Jeff is a clinician and investor that, in addition to investing in DTx, joined the company as COO. The ExSight team also co-invested alongside Dr. Friedman in RetroSense. Dr. Friedman's joining the company is a significant endorsement of DTx’s novel, proprietary technology, and a vote of confidence in founder and CEO, Dr. Suckow. 

The biggest hurdle limiting the expansion of oligonucleotides as a therapeutic class is delivery–finding safe and effective ways to get siRNA into cells outside of the liver. This advancement will enable therapeutic access targets that are currently undruggable. These pathways are implicated in inherited retinal disease, autoimmune disease, neurodegenerative disease, cancer, glaucoma, or metabolic disease. In addition to accessing validated but undruggable targets, there are specific advantages to the siRNA mechanism concerning the duration of action and efficacy. These factors differentiate siRNA therapeutics from small molecules, antibodies, and even other oligonucleotide mechanisms. 
DTx has developed a proprietary fatty-acid based technology that enables the delivery of siRNA therapeutics across multiple cell types. The company's platform technology permits oligonucleotide therapeutics to compete with small molecules and other biologics across most indications. It makes possible drug targets and diseases that small molecules and biologics cannot modulate. 

We recently learned that DTx was able to leverage its technology to improve outcomes in a rodent model of Retinitis Pigmentosa. EyeCRO conducted the studies. This development is the first time DTx has demonstrated therapeutic effects in a disease model! These results further underscore the ExSight thesis; the eye is an ideal proving ground for platform technologies with potential non-ophthalmic indications.

Dr. Suckow has done an exemplary job shepherding this technology through the critical early stages. We are thrilled to join Artie, Jeff, the DTx team, and an impressive group of investors in bringing this platform therapeutic modality closer to helping patients. 

The ExSight Ventures team is enthusiastically announcing the launch of the ExSight Ventures Syndicate on AngelList! AngelList is a platform site that enables accredited investors to invest in companies and funds. Syndicates “are single-deal VC funds created to invest in a specific startup.” AngelList Syndicates allow investors “to invest deal-by-deal in specific companies.” AngelList provides a digital platform that will enable both ExSight Ventures and these companies access to additional investors outside of our existing networks. The platform delivers an efficient solution for us to offer and administer co-investment opportunities.
 
Our investment strategy targets the most promising early-stage ophthalmology companies. These prospective investments include innovative companies that span sectors including therapeutics, diagnostics, and devices. The financings these companies are seeking to raise are frequently more than our current investment capabilities permit. We believe we have found a solution that will help us scale our investment capabilities and strengthen our investing abilities.
 
The ExSight Ventures Syndicate will provide our existing investors and other accredited investors access to the types of investments that comprise our current portfolio. Where and when possible, we will use AngelList Syndicates to amplify the firm’s capabilities. Not every opportunity will qualify for the Syndicate nor will it always be possible to obtain an allocation, particularly in deals where ExSight Ventures does not lead. Our AngelList Syndicate will allow our “backers” to help us fund the most innovate companies in vision-care. The AngelList platform will help us in our mission to preserve and restore vision. We have built a very robust pipeline of investment opportunities and are eager to maximize our participation in those opportunities through AngelList Syndicates. 

ExSight’s second fund, 8th Line II held a first close May 27 with participation from many of our existing investors. We also welcomed several new investors. The focus remains the same: to invest in the most innovative companies working to preserve and restore vision. We are quite fortunate to count among our investors in each fund colleagues, family, and friends. The ExSight team is exceptionally proud of what we are building and consider our investors an integral part of our story. Were it not for the support and partnership of each of you this would not be possible. When we came together to form ExSight in 2014, we did so intending to partner with talented founders and committed investors to tackle vision loss. Five plus years into that journey, that dream is becoming a reality. The road to success for startups and the venture funds that invest in them is long. Though still early, we are encouraged by the progress of our portfolio companies and the continued support of our investors. Thank you to each one of you!  
Now, back to work! 

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​LensGen, an ExSight Ventures portfolio company, was the buzz of this year's American Society of Cataract and Refractive Surgery meeting (“ASCRS”) in San Diego. Members of the ExSight team were in the audience to hear Drs. Eric Donnenfeld, Uday Devgan, and Sumit (Sam) Garg present benefits of the company’s novel Juvene™, (the Complete Premium) IOL, and early results from the “Grail” Study. In addition to the reception LensGen had three high profile presentations during the ASCRS meetings. The first presentation by Uday Devgan, M.D. was given at Cataract/Refractive Subspecialty day. Dr. Devgan, who was also a presenter at the LensGen reception was interviewed after his talk by Healio. Dr. Devgan was the first to introduce ExSight to LensGen several years ago. 
The next presentation by Sam Garg, M.D. was made to a full audience at OIS. Dr. Garg’s talk was front-page news in Eye World ASCRS. The final presentation in this series was given by Eric Donnenfeld, M.D., to a packed house in the main ballroom at the Innovators Lecture session. Each year, ASCRS honors individuals whose innovative ideas have benefited ophthalmologist and their patients at the prestigious Innovators Lecture. Dr. Donnenfeld presented on the Juvene IOL technology and shared the early “Grail” study results. You can watch that presentation in Healio.
It was a very exciting ASCRS for LensGen! We are honored to be a small part of the LensGen story and are very optimistic about their future prospects. Ram and the rest of the LensGen team deserve praise for their dedication and execution.