For a 12 to 18-month period, involving initial in-vivo animal trials and completion of in-vitro / in-vivo drug elution studies, Maculus aims to collect USD 3 million on a USD 8 million valuation.
FREMONT, CA: Maculus Therapeutix, a preclinical-stage biopharmaceutical firm that has developed a SINGLE injection delivery platform for diseases like wet AMD (Age-related Macular Degeneration) and DME (Diabetic Macular Edema) instead of the standard 8-12 monthly injections, welcomed Privity FZ LLE as a partner and advisor for upcoming fundraising activities. For a 12 to 18-month period, involving initial in-vivo animal trials and completion of in-vitro / in-vivo drug elution studies, Maculus aims to collect USD 3 million on a USD 8 million valuation.
“We are very excited to welcome Privity as we develop this unique product, which can bring such transformative treatment to those suffering from wet AMD and DME. Current standards of care (8-12 monthly injections to the eyes for AMD and for DME) bring numerous challenges: pain, inflammation, infection, loss of vision. Our product is designed to solve each of these challenges while significantly reducing the total cost of care,” said Syed H Askari, Ph.D., Founder, Chief Executive Officer, and CTO, Maculus Therapeutix. “More importantly, our product makes it possible to replace the multiple injections required today with ONE injection for any FDA approved drug, a leap ahead of the current standards of care, and an approach which could change the lives of 200 million patients worldwide suffering from these debilitating eye diseases.”
The breakthrough was made by Maculus using a patented novel biodegradable tunable proprietary device, MacuBloc. Capable of administering to the site of the disease every FDA-approved medication for Wet AMD/DME, with special suitability for targeted and prolonged delivery of drugs to the back of the human eyes, MacuBloc provides significant advantages to patients with Wet AMD, such as a single intravitreal injection that lasts for one year rather than the current monthly injections, and a possible reduction in inflammation, infectious disease.
“Privity was founded to identify entrepreneurs with unique ideas and compelling value propositions, and Maculus fell right into this sweet spot, speaking straight at me as I had experienced diabetic retinopathy personally and with family members. Syed is a serial entrepreneur, while his doctoral work in Chemistry in India, the UK and Canada, and professional career in the US speak for themselves. Above all, his work with Polymers may well change the game in drug delivery,” Sleem Hasan, Founder, and CEO, Privity.