The Penn State spinout has received funding from Pennsylvania state-backed investors to develop a treatment for diabetic dry eye disease.
Ocunova, a US-based ocular disease-focused spinout of Pennsylvania State University (PSU), has raised a $500,000 seed round from two Pennsylvania government-backed investors.
The two backers were non-profit commercialisation firm Life Sciences Greenhouse of Central Pennsylvania and seed fund Ben Franklin Technology Partners of Central and Northeastern Pennsylvania.
Ocunova’s lead compound, OCU-001, reformulates a drug currently approved in the US for managing alcohol and opioid dependence, Naltrexone, as a therapy for diabetes patients suffering from dry eye syndrome.
Dry eye syndrome…
