Re-Vana Therapeutics is a pioneering ocular drug delivery and therapeutic company focused on developing the world’s first sustained-release large molecule biologics to treat serious eye diseases. Our innovative platform technologies, EyeLief®, EyeLief SD™, and OcuLief®, enable the efficient delivery of biologics and small molecules, expanding global treatment opportunities. With a multi-billion-dollar market segment, our non-surgical approach offers a significant advantage over traditional treatments. Furthermore, Re-Vana has potential market expansion opportunities beyond the eye, positioning us for long-term growth and success.
Macular degeneration, glaucoma, and diabetic eye disease are responsible for 74% of blindness related to retina eye diseases. Unfortunately, delivering drugs to the eye to treat these conditions presents significant challenges. Firstly, frequent (monthly or bi-monthly) and uncomfortable intravitreal injections for serious retina diseases are required, which can lead to potential complications. Secondly, while topical eye drops are a common for eye diseases such as glaucoma, poor patient compliance rates of 90% are reported. To advance treatment and improve patient outcomes, sustained release technologies capable of delivering drugs to the eye for six months or longer are necessary.
THE RE-VANA SOLUTION
Re-Vana Therapeutics has created a set of exceptional photo-crosslinked biodegradable technologies, including EyeLief, EyeLief SD, and OcuLief, that can deliver biologics and small drugs to the eye for an extended period of 6 months to 2 years. EyeLief and EyeLief-SD undergo photo-crosslinking before being inserted into the eye. In contrast, OcuLief is a distinctive gel that transforms into an implant after insertion into the vitreous and is then photo-crosslinked in situ; our proprietary photo-crosslinking process is completed using a straightforward visible light pulsed device.
THE MARKET OPPORTUNITY
By 2024, the entire eye drug market is expected to reach $42 billion. In 2021, the retina market alone, consisting of intravitreal injection biologics, amounted to approximately $12 billion. Our second target market, glaucoma, is projected to reach $6.3 billion by 2024. Moreover, there are additional market opportunities available for us to explore.
We’ve developed two parallel strategies that could potentially lead to market entry or exit. The first strategy involves developing an internal asset, which combines Re-Vana technology and drug, with the goal of obtaining future product licensing or acquisition opportunities. The second strategy involves building strategic collaborations by combining Re-Vana technology with a partner drug. Once proof of concept is established, this approach presents significant opportunities for licensing deals or acquisition in the future.
On the technical front, we have achieved significant in vivo proof of concept with EyeLief, demonstrating both efficacy and tolerability, as well as successfully delivering biologics and small molecules for over 6 months. Our testing of OcuLief has even demonstrated delivery lasting up to 24 months. Furthermore, we have submitted 5 IP applications so far (one issued).
On the commercial side, we are partnering with at least two major pharmaceutical companies to conduct feasibility testing of their novel therapeutics with Re-Vana technology. We have successfully achieved all milestones to date and are currently negotiating additional collaborations.
5 IP applications have been submitted so far, 1 patent is issued.
Our technology includes sustained release of biologics and small molecules for a duration of 6 to 12 months or more. We have demonstrated excellent tolerability, pharmacokinetics, and efficacy. Moreover, our technology allows for high drug loading and is applicable for both hydrophilic and hydrophobic molecules.
After raising $3.25 million in a pre-Series A round in 2020, Re-Vana has now successfully closed a Series A round worth $11.9 million in November 2022. Leading US ophthalmic-focused venture capitalists, Visionary Ventures, ExSight Ventures, and InFocus Capital, as well as UK investors and a major corporate investor, participated in this round.