Qlaris Bio, a biotechnology company specializing in ophthalmic diseases, secured $24 million in Series B financing. The round was co-led by Canaan and New Leaf Venture Partners, with participation from abrdn Inc., Mayo Clinic Ventures, and Correlation Ventures.

The proceeds will support the continued development of QLS-111, an innovative therapeutic targeting episcleral venous pressure (EVP) to lower intraocular pressure (IOP). QLS-111 is currently undergoing two Phase II clinical trials in the US. Additional trials, including a Phase II study for normal tension glaucoma (NTG), are planned for 2024.

QLS-111 aims to address the unmet need for effective treatments in glaucoma, especially NTG, where current medications do not adequately control IOP. EVP is a key determinant of IOP, and QLS-111’s mechanism of action targets EVP to lower IOP.

The science behind QLS-111 is rooted in the research of Dr. Michael Fautsch of Mayo Clinic. The drug relaxes vessels distal to the trabecular meshwork, reducing outflow resistance and EVP. Preliminary data indicate good tolerability and safety.

Qlaris is committed to developing new treatments that address unmet needs in IOP regulation. Thurein Htoo, CEO of Qlaris, expressed gratitude for the investor support, which will enable the company to advance its clinical strategy and bring a novel solution to patients with glaucoma.

Wende Hutton of Canaan believes in Qlaris’s technology, leadership, and scientific expertise. The company’s potential to validate the importance of EVP targeting in QLS-111 trials has garnered investor confidence and anticipation for the upcoming clinical data.

Source link: http://www.businesswire.com/news/home/20240430870310/en/Qlaris-Bio-Completes-24-Million-Series-B-Financing-Round-to-Advance-QLS%E2%80%91111-a-First-in-class-IOP-lowering-Drug-Candidate-for-Glaucoma

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Ferry Darma
Ferry Darma is Director of Media Relations at The Clinical Trial Vanguard. Ferry, a computer data scientist, focuses on the latest clinical trial industry news and trends.