American Marconi Wireless News - Dragonfleye Therapeutics Corp. Takes Flight, Raising US$37.5 Million in Private Placement Offerings to Advance Novel Ocular Platform-Based Treatments

Proceeds will fund continued development of the Company's ophthalmic treatments, expand the scope and depth of its platform technology, grow its partnership pipeline and intellectual property portfolio, advance regulatory and reimbursement strategies, and support working capital for general corporate purposes.

"With this financing, we are one step closer to bringing our platform-based ocular treatments into clinical development," said Dragonfleye's co-founder and Chief Executive Officer, Rajeev H. Muni, MD, FRCSC. "Our mission is to preserve and restore vision by treating eye diseases through a minimally invasive, versatile platform that provides nonsurgical, transscleral access to multiple ocular spaces, including the macula. The conviction shown by this group of new and existing investors reflects real confidence in our team, our science and engineering, and our goal of becoming a global leader in pioneering ocular treatments. We look forward to sharing our progress with stakeholders in the months ahead."

About Dragonfleye

Dragonfleye is a near-clinical-stage ophthalmology company developing potentially best- and first-in-class treatments for unmet medical needs. Our treatment approach uses a proprietary platform that enables precise, minimally invasive, nonsurgical, transscleral access to the supraciliary, suprachoroidal, and subretinal spaces, including the macula. It offers design versatility across ocular locations, tissue depths, payload viscosities (from solutions to implantable materials), and volumes, supporting the potential for improved outcomes across a range of ocular conditions.

Two programs in our pipeline are advancing toward clinical evaluation. Our lead program targets retinal detachment (RD) repair, an area with no approved or clinically advanced nonsurgical, minimally invasive suprachoroidal options today. The Dragonfleye RD Treatment System pairs an innovative injector with a resorbable implant delivered to the suprachoroidal space to perform suprachoroidal viscopexy™ (SCVEXY™), with the potential to improve reattachment integrity and patient quality of life.

In our second program, we are developing a non-pharmacologic approach to lowering intraocular pressure for patients with open-angle glaucoma and ocular hypertension. Beyond these two programs, our suprachoroidal platform is designed to enhance treatments by delivering pharmacologic and non-pharmacologic payloads across a range of ocular conditions, while our subretinal approach provides nonsurgical transscleral access to treat both prevalent and rare retinal diseases, with the potential to accommodate biologics, including cell and gene therapies, oligonucleotides, small-molecule drugs, and sustained-delivery approaches.

For more information, please visit www.dragonfleyecorp.com.

Important Notice

The Offerings, which have both closed, relied on prospectus exemptions under NI 45-106, and the shares issued under them are subject to transfer restrictions. No prospectus has been filed with any Canadian securities regulatory authority in connection with the Offerings. The securities issued in connection with the Offerings will not be registered under the U.S. Securities Act of 1933, or any U.S. State securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any jurisdiction.

Contact:

[email protected]

SOURCE: Dragonfleye Therapeutics Corp

View the original press release on ACCESS Newswire

D.Sawyer--AMWN