Novartis steps in to help seed a Michigan spinout’s move into the clinic with new eye drug
Novartis has joined hands with some local investors in Michigan to come up with a small but significant $4.25 million A round for a startup looking to make a rep for itself in ophthalmology R&D.
The money — with includes a converted $1 million loan — will help Ann Arbor, MI-based ONL Therapeutics prep for its first clinical trial of ONL1204, a Fas inhibitor designed to guard the retina from cell death — including photoreceptors — triggered by the inflammatory response induced by retinal diseases.
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