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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