ONL Therapeutics Extends Runway Into Phase 2

ExSight is pleased to announce our continued participation in ONL Therapeutics with the first tranche closing of a $15 million Series C financing. Tranche 1 will primarily power the advancement of ONL1204 Ophthalmic Solution into a Phase 2 clinical trial in patients with macula-off rhegmatogenous retinal detachment (RRD). This funding will also provide ONL with added runway as it prepares for two Phase 2 programs in Geographic Atrophy (GA) and Open Angle Glaucoma (OAG).

It has been inspiring to watch the ONL team execute and propel this program forward. We followed ONL’s early development for an extended period and first invested in 2018 while the company was still in pre-clinical development. Seeing ONL1204 now enter its first Phase 2 study is a testament to the ONL team’s dedication and determination.

We echo co-founder and CSO, David Zacks, MD, PhD. when he states:

“There is excitement across the ophthalmology community for ONL1204’s unique and differentiated mechanism of action, a novel therapeutic approach for patients suffering from serious, vision-threatening diseases. Core to our mission is to continue to move forward on our clinical development pathway with the ultimate goal of bringing new neuroprotection therapies to market to address significant unmet medical needs.”

ONL1204’s transformative neuroprotective therapeutic value has revolutionary potential.

Read the Full Press Release.

David Esposito, CEO ONL Therapeutics

ONL Therapeutics David Esposito discussing ONL at ExSight's ASRS Reception. (New York City, 2022)

Photo credit: Jenna @ Spilled Milk Creative