Tenpoint Therapeutics, a global biotechnology company focused on developing groundbreaking treatments to rejuvenate vision in the aging eye, today announced it has secured £170 million through the close of its Series B preferred stock financing and a credit facility.
The company raised £60 million in Series B financing led by Janus Henderson, EQT Nexus, Hillhouse and British Business Bank, with participation from EQT Life Sciences, Sofinnova Partners, F-Prime, Eight Roads, Qiming Venture Partners USA, AdBio and Wille. In addition to the Series B, it entered into a £110 million non-dilutive senior secured term loan facility with Hercules Capital.
Led by CEO Henric Bjarke and Chairman Dr. David Guyer, Tenpoint Therapeutics is focused on bringing innovation to the aging eye through the development and commercialisation of treatments for conditions like presbyopia. It's lead product, YUVEZZI™ (carbachol and brimonidine tartrate ophthalmic solution), is the first and only dual-agent eye drop for the treatment of presbyopia, a condition that affects nearly 128 million people in the U.S. and approximately 2 billion people globally. By understanding real-world needs and partnering with eye care professionals, Tenpoint is working to bring innovation to the aging eye. The company plans on using funds to commercialise YUVEZZI™ following U.S. FDA approval.
