Tenpoint Therapeutics, a London and Seattle-based biotechnology company developing vision rejuvenation treatments for the aging eye, has raised $235m through a Series B stock financing and a credit facility, with the Series B led by Janus Henderson, EQT Nexus, Hillhouse and British Business Bank.
Other participants in the Series B included existing investors EQT Life Sciences, Sofinnova Partners and F-Prime; Tenpoint also entered into a $150m 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 commercialization of treatments for conditions such as presbyopia. Its lead product, YUVEZZI™ (carbachol and brimonidine tartrate ophthalmic solution), was recently approved by the U.S. FDA as the only dual-agent, once-daily eye drop for presbyopia, a condition affecting nearly 2 billion people globally.
The company intends to use the funds to strengthen its balance sheet and accelerate commercialization of YUVEZZI following U.S. FDA approval.
