The ocular biotech spinout was has received cash from backers including the VTC Innovation Fund as it prepares to take its dry eye syndrome treatment through clinical testing.
TearSolutions, a US-based ocular biotechnology spinout from University of Virginia, has secured $8.5m from a series B round co-led by the Virginia Tech Carilion (VTC) Innovation Fund.
Pharmaceutical firm Pharmstandard International co-led the round, which also included its peer Santen Pharmaceutical’s investment unit Santen Ventures and unnamed, existing backers.
The VTC Innovation Fund is a $15m vehicle launched by the foundation of Virginia Polytechnic Institute and State University (Virginia Tech) and healthcare provider Carilion Clinic in February 2017.
TearSolutions…
